MANILA— The middle to upper-income unit of listed property giant Ayala Land Inc. (ALI) expects to generate Php 45 billion worth of sales from 16 new projects it targets to launch this year, riding the country’s robust economic growth and strong investor confidence.
Alveo Land President Jennylle S. Tupaz told reporters the company would introduce 14 residential developments and two office towers for sale.
“Alveo will continue to strengthen its presence in major growth centers and in Ayala Land estates. We are expanding our footprint across the nation as we venture into new territories, and launch more compelling formats capitalizing on the synergies within the Ayala group,” she said.
Tupaz noted the company will expand its presence in Alabang and Cavite in the South, Bulacan in the North and Cagayan De Oro in Mindanao in 2017.
It currently has 84 developments in 12 key locations across the country.
“We are very optimistic that the demand will continue to be there and it will be higher than what we had last year. Last year, we made Php38 billion,” she said.
Tupaz further said the firm continued to acquire land in key locations, particularly in Makati City, Bonifacio Global City and Quezon City.
“We continue to look for land in all the growth centers over the longer term not just for this year. We want to sustain our pipeline… Inventory will be coming from growth areas where we are at, at the same time expanding our footprint to the rest of the country,” she added.
Alveo made eight new property acquisitions in Laguna, Alabang, Cagayan de Oro and Makati last year.
It launched nine projects worth Php22 billion in 2016, with current sales take up rising steady at Php38 billion. The projects comprised a mix of residential lots, condominiums and office spaces.