by VG Cabuag - October 27, 2015 [ businesmirror.com.ph ]
PROPERTY developer Megaworld Corp. said real-estate values in its 62-hectare development called Alabang West soared 19 percent, just 11 months after the launch of its subdivision last year.
The company claimed that from P47,000 per square meter in October last year, land prices in Alabang West have increased to P56,000 per sq m as of September this year.
The development was carried out by Global-Estate Resorts Inc.
To date, around 80 percent of the total 788 residential lots are already sold out.
Rachelle Peñaflorida, vice president for sales and marketing of Megaworld, said the fast take-up of lots in the township is attributed to its location and bright prospects for fast value appreciation of the property.
“There has been a sharp rise in the demand for residential lots in Alabang West in the past six months. As far as location is concerned, Alabang is not just an option, but top-of-the-mind to many property buyers, especially those who are looking into the south,” Peñaflorida said.
Alabang West integrates a Beverly Hills-themed lifestyle into its commercial, retail and residential developments.
Aside from a shopping strip inspired by the Rodeo Drive in Hollywood, Alabang West also offers an upscale residential community with lots ranging from 250 sq m to 800 sq m. “In the next five to 10 years, we envision Alabang West to be the next big thing in southern Metro Manila,” Peñaflorida said.