AVIDA Land Corp., the middle income housing subsidiary of property giant Ayala Land Inc. (ALI), expects revenues to hit P6 billion this year on the combined sales from its projects mostly in South Luzon.
Herbert Herrero, Avida assistant vice president for Project and Strategic Management, said they are targeting P6 billion in sales this year, P3.6 billion from horizontal residential projects in South Luzon and the balance from projects elsewhere in the country.
About 70 percent of Avida’s house and lot residential projects are in South Luzon, where it has 20 projects spanning 690 hectares and offering more than 16,000 housing units.
Herrero said the take-up rate of their housing units continues to be robust particularly in Cavite, Laguna, and Batangas. Due to this, the company is aiming to launch 11 more projects this year — three in South Luzon and eight in Metro Manila and the Visayas.
In January, Avida launched the second phase of its 21-hectare residential community Avida Settings Lipa.
Herrero said the company is working on launching four projects in the first half of this year with a combined cost of P9 billion. “We’re trying to be present in other locations, such as North Luzon. We hope to launch our project in Tuguegarao this year,” he said.
Avida’s housing units range in size from 52 square meters (sqms) to 86 sqms, priced from P4.8 million to P6.5 million each.
According to Herrero, 70 percent of their homebuyers are end-users — either for primary or secondary homes — while 30 percent buy the units for investment, either to offer the units for lease or for resale.
Since its establishment, Avida has already developed 78 projects or more than 60,000 housing units in 15 locations nationwide. It has the widest geographic reach and the most number of projects and units within the Ayala Land group.
ALI’s other subsidiaries are Ayala Land Premier for the luxury market, Alveo Land Corp. for the upscale and high-end market, and Amaia Land Corp. for the economic and affordable housing segment.