Alveo marks milestones in 2017, sees new growth areas this year

MANILA, Philippines — Alveo Land, a major brand under property giant Ayala Land Inc. (ALI), recorded a 20 percent growth in combined sales take-up to a record P45.6 billion in 2017 on the back of new launches and sustained inventory.

This year, Alveo aims to launch over P40 billion worth of projects including developments in North Luzon and Mindanao, new geographies and markets that the company will tap for the first time, Alveo Land president Jennylle Tupaz said in a briefing.

For 2017, a total of 3,018 units worth P33.2 billion went on the block, with more than half of the new inventory already sold to date.

Among the different projects, residential lots proved popular among Alveo buyers last year, with the company recording a 29 percent increase in take-up to P8.2 billion in 2017 from P6.4 billion in 2016.

Sales of condominium units likewise, grew 24 percent to P26.3 billion in 2017 from P21.3 billion a year ago.

Meanwhile, Alveo’s office-for-sale portfolio had a P10.8 billion take-up, which was seven percent higher than the year before.

Among the different areas, Makati saw the highest growth of 48 percent take-up, largely due to Alveo’s success in Circuit Makati.

 Tupaz said the company had several residential and office projects in Makati, Pasig Quezon City and South Luzon.

“In terms of overall take-up, Makati continues to be a preferred location by both local and foreign markets,” she said.

The company already has three main projects in Circuit, namely residential buildings Solstice and Callisto, and The Stiles Enterprise Plaza for its office offering.

 It also launched new towers in Pasig and Vertis North in Quezon City, another mixed-use estate by ALI.

 Furthermore, Alveo offered 395 residential lots for The Residences at Evo City, another mixed-use ALI estate in Kawit, Cavite.

 “Majority of our projects are integrated within key Ayala Land mixed-use estates all over the country, which is a great advantage that we always take into consideration. Being in such highly strategic locations provides the best overall investment value for our customers in the long-term,” Tupaz said.

A fully-owned subsidiary of ALI, Alveo marked its 15th year of business with 11 project launches of residential and office products all across the country.