MANILA - Ayala Land unit Alveo Land said Wednesday it recorded sales of P45.6 billion last year, with year-on-year growth at an unprecedented 20 percent.

The take-up in residential lots grew 29 percent to P8.2 billion. The condo segment grew 24 percent to P26.3 billion while the office-for-sale segment grew 7 percent.

By location, the take-up was highest in Makati, up 48 percent, driven by the company's Circuit Makati development, the company said.

New towers launched in Pasig and Vertis North in Quezon City, a sustainable mixed-use Ayala Land estate, also boosted growth, Alveo said.

"Majority of our projects are integrated within key Ayala Land mixed-use estates all over the country, which is a great advantage that we always take into consideration. Being in such highly strategic locations provides the best overall investment value for our customers in the long-term," said Alveo Land president Jennylle Tupaz.

Alveo said it planned to launch over P40 billion worth of projects in 2018, including developments in North Luzon and Mindanao.