Alveo bares plans for new ventures this year
After achieving a 20 percent growth from its outstanding performance the previous year, Alveo Land recently announced it will undergo expansion in 2018.
The upscale developer, a fully owned Ayala Land (ALI) subsidiary, intends to launch over P40 billion worth of new projects in areas including Northern Luzon and Mindanao. Several residential, commercial and office projects are set to attract both local and foreign buyers alike.
“We always consider our consumers’ needs and lifestyle when planning and developing our projects. Our continuous commitment is to deliver consumer-relevant innovation in all our products, and provide a dynamic portfolio of real estate solutions all over the country,” says Jennylle S. Tupaz, president of Alveo Land.
What’s in store?
Alveo’s advancements in their developments will be composed of horizontal-residential projects (64 percent), condominium units (29 percent), office buildings (five percent) and commercial lots (two percent).
In terms of value, residential projects are expected to be the highest at 42 percent, succeeded by condominium development at 30 percent. Commercial lots will contribute 19 percent while office development will be at nine percent.
Tupaz also reiterated the strong performance of the gross domestic product is a significant factor in attracting investors.
During the previous year, Alveo was able to turn over seven completed projects namely, One Maridien at High Street South and Tower 1 of High Street South Corporate Plaza in Bonifacio Global City; Lumira in Nuvali; Westborough Town Center in Laguna, Kasa Luntian in Tagaytay; Solinea Tower 1 in Cebu; and Abreeza Tower 1 in Davao.
But for 2018, Alveo expects more projects to be completed and turned over to the public.
P45B sales performance
At a press briefing in Bonifacio Global City, Tupaz revealed Alveo has concluded its 15th year with sals of P45 billion.
In comparison to 2016’s P22.5 billion, Alveo posted a total of P36.5 billion for 2017. The Ortigas-Pasig area exhibited the highest growth with a 139 percent increase equivalent to P3.7 billion.
Meanwhile, South Luzon registered a 54 percent growth in 2017, with Makati City at 48 percent growth and Metro Manila at 34 percent.
The upscale developer’s notable performance was also boosted by launches in areas like Makati, Ortigas-Pasig, Quezon City, Cavite and Taguig, that successfully introduced signature properties within ALI’s sustainable estates. This includes developments in Circuit Makati, Alviera in Pampanga, Vertis North in Quezon City, and Evo City in Cavite, among others.
Projects located within ALI estates have experienced faster take-ups than most, as buyers and investors realize the benefits of living and working within a mixed-use, integrated estate.
These typically include offices, commercial and retail establishments and residences, as well as parks and open spaces to complement the area.
Alveo also saw sales of residential and office projects rise the past year, especially in Circuit Makati. Alveo properties in the area include condo developments Solstice and Callisto, as well as office-for-sale The Stiles Enterprise Plaza.
Signature subdivision The Residences at Evo City in Cavite, on the other hand, sold out completely in one day. This made Alveo history as its fastest and highest-selling lot subdivision of all time.