AYALA-LED Alveo Land Corp. is looking to generate as much as P45 billion in sales this year as the company continues to expand its business portfolio.
In a news conference in Taguig City on Tuesday, Alveo Land President Jennylle Tupaz said the company has entering new markets outside Metro Manila, namely Bulacan and Cagayan de Oro, alongside replicating projects in areas where it has already gained a foothold.
Tupaz said Alveo Land was poised to launch P40 billion worth of projects in 2018. This is 20.48 percent higher than the P33.2 billion worth of actual launches in 2017.
Last year, Alveo Land introduced 11 new developments totaling a combined 3,018 rooms. Of the total, seven were successfully delivered including One Maridien, High Street South Corporate Plaza Tower 1, Numira, Westborough Town Center, Kasa Luntian, Solinea Tower 1, and Abreeza Place Tower.
“We hope to do more on the leisure side this year,” Tupaz said.
Turning to its take-up rate, the company said it booked P45.6 billion in sales last year, an increase of 20 percent versus the P38 billion registered in 2016, primarily coming from both new launches (P16.4 billion) and sustaining inventory (P29.2 billion).
It said sales of residential lots in 2017 increased by 29 percent to P8.2 billion from the P6.4 billion recorded in 2016.
The take-up rate of its condominium units grew 24 percent, from P21.3 billion to P26.3 billion, while office portfolio sales rose to P10.8 billion, up 7 percent from the previous year.
“For 2017, Alveo actively marketed 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,” Tupaz said.
“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,” she said.
Alveo Land is a subsidiary of conglomerate Ayala Corp. under its largest property arm Ayala Land, Inc.