MEGAWORLD Corp. sees land prices in Alabang rising this year, given brisk sales in its residential development in the area.
Megaworld said the residential portion of its 62-hectare Alabang West township is now 50 percent sold within three months since its launch last year, generating P5 billion in revenues.
Rachelle Peñaflorida, vice president for sales and marketing of Megaworld Global-Estate, Inc., said the company expects strong sales to continue, but also forecasts an appreciation in land prices in Alabang.
“Due to the good investment climate in Southern Metro Manila, we expect that the remaining available residential lots will be sold out before the first quarter of 2015,” Peñaflorida was quoted, as saying.
“We expect land prices in Alabang West to rise by 25 to 30 percent this year from its launch price last year,” she added.
Almost half of the 788 residential lots in the Alabang West village are already sold out from October to December last year.
Megaworld is now selling the remaining half of the village, which is the Phase 2 of the upscale village of the Alabang township.
Alabang West is an integrated Beverly Hills-inspired township along Daang Hari in Las Piñas City, marketed as a posh complex for the rich.
“As a world-class township, Alabang West will continue to be the driving force to help boost the economic growth in Southern Metro Manila,” Peñaflorida said.
Aside from the 788 residential lots, Alabang West also comprise of 6,860 square meters of open space for lifestyle amenities in the clubhouse, which includes badminton and basketball courts, function rooms, cabanas, game room, café and al fresco dining areas, fitness center, pocket gardens, open space parks, infinity pool, and others that ensure comfort.