Alveo Land Corp., the upscale property unit of Ayala Land Inc. (ALI), is targeting up to 15 percent growth in sales to P40 billion in 2015 from P36 billion last year given the accelerated pace of its office and horizontal residential projects this year.
“We offer a wide range of residential, office, and leisure developments all across the country to satisfy the needs of our growing market. This puts us in the best position to take full advantage of the country’s economic growth as we continue to be present in all key central business districts in Metro Manila,” Roberto Lao, Alveo president, said.
Lao told reporters that revenue share contribution this year is expected to be divided into: vertical condominium towers (58 percent), horizontal residential projects (22 percent) and office towers (24 percent).
“For the next three years, our target is to increase our revenues by 20 percent in the long term, in line with the parent firm’s (ALI) 2020 Vision to grow 20 percent annually,” Lao said, noting that the firm had grown at 21 percent on average in the last three years.
In terms of project launches, Alveo Land plans to launch 10 projects this year valued at P35 billion to P40 billion, up from the nine projects launched last year valued at P33 billion.
Six of the 10 projects will be launched in the first half of the year in Makati, Bonifacio Global City (BGC), Quezon City, Nuvali in Sta. Rosa Laguna, and Pampanga while the four other projects will be launched in the second half.
The projects launched last year were Park Triangle Corporate Plaza and Verve Residences Tower Two in BGC; Veranda West and South Towers in Arca South, Taguig; Solsitice Tower Two in Circuit Makati; Lumira in Nuvali, Sta. Rosa Laguna; and High Park Tower One in QC.
“Because we are seamlessly integrated in main districts, the value appreciation potential of our developments is higher because we ensure that the investment is protected in a well-planned and controlled environment,” Lao said.
“We have a growing middle class exercising their spending power boosted by higher consumer confidence, so we are sharpening our focus on providing genuine consumer-relevant, real estate innovations that will truly make a mark in the industry,” he added.
Alveo still has over 1,000 hectares of land bank which is still expected to increase as the company sets out to acquire more land worth P5 billion this year, in line with its acquisition program to spend P5 billion yearly in landbanking initiatives.
The company also allocates P10 billion for its capital spending annually.
To date, Alveo has 36 existing projects in 10 locations, mostly CBDs in the metropolis and in Cebu, Davao, Pampanga, Cavite, Laguna and Tagaytay.
Alveo is the upscale and high-end residential and commercial offices brand of the Ayala property umbrella which also includes Ayala Land Premier for the luxury market, Avida Land Corp. for the mid range market, and Amaia Land Corp. for the mass housing market.