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Ayala Land posts P2.9-billion sales

Written by  Ed Velasco

Wednesday, 08 May 2013 00:00[ tribune.net.ph ]
Ayala Land Premiere is calling the shots literally against fierce rival Eton Properties and other real property developers after fifth venture along its Nuvali property — Luscara — generated P2.9-billion sales in just a few months of pre-selling.
Luscara is located at Nuvali, a 1,860-hectare development, along Mamplasan and Sta. Rosa exits of South Luzon expressway (Slex).
Jose Juan Jugo, the firm’s head, said the very good investment climate of the Philippines is the reason why their latest venture sold like hotcakes in just a few months of pre-selling.
“The rising demand for living spaces in the country’s first eco-sustainable township is anchored on its continued evolution.
The growth of business, commercial and recreational developments in Nuvali, as well as the infrastructure that makes it accessible to Metro Manila, further convinced us that a bigger opportunity awaits us in the residential market in Nuvali,” said May Rodriguez, project development head of Ayala Land Premier.
Rodriguez also corrected speculations that Ayala is rushing to build more projects inside the sprawling Nuvali because of worries that Lucio Tan-owned Eton Properties is now the leading real estate property in the area.
“There has been no development at Eton when it began some years back, while when we began in 2007 we already built five projects.
So where’s the competition? I guess none,” Rodriguez explained.
Luscara, a 50-hectare exclusive property, is now 80 percent sold as only few of the 272 lots in the newest project remain available.
Unlike most crowded high-end subdivisions, the newest project of Ayala Land Premiere only allows five lots, with maximum cut of 861 sq. m., for every hectare.
One hectare is equal to 10,000 sq. m.
Jugo denied speculations that Ayala is raking in billions of pesos because the firm also won the bidding for the development of Slex-Daang Hari project.
“No relation to our business whatsoever that entity is building even though we both belong to Ayala Group,” Jugo told reporters at yesterday’s event at the swanky Mango Tree restaurant in the Fort, Taguig.
He said since Ayala introduced Nuvali in 2007, price of lot in the area has gone almost double from P9,000/square meter (sq. m.) to P17,000 to P20,000 at present.
The newest project has generated P2.9 billion during the exclusive priority selling of its first two tranches.
Before embarking on Luscara, the firm also built Abrio, Montecito, Santierra and Elaro and sold them out in just a few months.
“In 2012, our sales eclipsed its initial P22-billion target by P3 billion, hitting a new all time high of P25 billion. This is solid proof that demands for premium living spaces in our residential sites remain robust. And with the way Luscara was well received by our market, there is a good chance of replicating that success for this year,” the firm said.
Luscara has various amenities designed for indoor and outdoor gatherings, such as social halls, a multi-purpose court, a fitness area, a swimming pool and a playground.
A highlight feature of the development is a 600-meter main park, landscaped to further heighten the soothing ambiance of the community.

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