Alveo Land dominates south Luzon residential market

by Cathy Rose A. Garcia, ABS-CBNnews.com

Posted at Oct 26 2012 12:24 PM | Updated as of Oct 27 2012 03:25 AM

Alveo Land reported strong sales for Venare Nuvali in Laguna. / Courtesy of Alveo Land

MANILA, Philippines - Alveo Land, a subsidiary of leading property developer Ayala Land Inc., remains the leader in the southern Luzon residential market.

Research firm Colliers International Philippines reported Alveo Land's portfolio accounted for a majority of property take-ups in southern Luzon this year.

Antonio Sanchez III, division manager of Project Development for Alveo Land, said the company takes pride in the fact that southern Luzon is its "homecourt", giving them an advantage over other developers.

This year, Alveo's horizontal communities in Verdana Homes Mamplasan, Treveia Nuvali, Venare NUVALI, and the recently launched Mirala Nuvali cornered a 66% share of the market in Laguna.

"As of the third quarter of 2012, Verdana Homes Mamplasan (in Biñan, Laguna) is 96% sold with 77% of its total inventory all turned over to clients. For 2012 alone, it had so far contributed a net take-up of 55 lot sales worth roughly P156 million for the year," Sanchez said.

After the launch of Mirala, Alveo’s Southside communities account for P4.8 billion or almost 30% of the total volume of Alveo Land’s overall 2012 sales performance. Sanchez said the Southside portfolio accounted for about 100 unit sales each month this year.

Alveo also has residential developments in Nuvali, Ayala Land's 1,860 hectare flagship eco-city in Laguna. Treveia and Venare continue to show strong take-up amid continuing development efforts.

"We launched the final tranche of residential lots in Venare NUVALI earlier this year, highlighted by an impressive single-day take-up during its priority selling. 126 out of the 160 newly opened lots were sold during the event held at the NUVALI Evoliving Center in February 2012, the sales of which were valued at around P467 million. This contributed to Venare’s year-to-date 2012 take-up of 313 lots worth approximately P1.3 billion. All told, 97% of Venare’s total 1,392 lots are now spoken for, ever since its successful launch in June of 2010," Sanchez said.

Treveia, which was launched in October 2007, is now 98% sold and 833 units have been turned over to homeowners. This year, Alveo sold 33 lots of Treveia's remaining inventory, worth P152 million.