Alveo to launch P40-B projects this year

MANILA -- Alveo Land Corp. aims to launch PHP40- billion worth of projects this year, bringing to the property market around 6,000 units.  

“We continue to be very confident about the market, it’s still gonna be a buoyant, robust market for Alveo. So 2018 is really about raising our gain, every year is really about moving up,” Alveo Land President Jennylle S. Tupaz said in a press briefing Tuesday.

Alveo, a subsidiary of property giant Ayala Land, will introduce to the market developments in North Luzon and Mindanao, specifically in Bulacan and Cagayan de Oro, new geographies and markets that the company looks forward to serving for the first time.

“We are going to be expanding our footprints. We will be serving new markets. In areas we are at, we just continue to strengthen our foothold,” Tupaz said.

She said bulk, or 64 percent of the PHP40-billion projects, are horizontal developments, while 29 percent are vertical developments. The remaining 7 percent are office and commercial projects.

In terms of value, Tupaz added horizontal projects comprise 42 percent; vertical projects, 30 percent; commercial projects, 19 percent; and office projects, 9 percent.    

Alveo Land ended 2017 with PHP45.6 billion in combined sales take-up, marking an unprecedented growth of 20 percent over the previous year’s PHP38 billion.

It launched 11 residential and office products across the country last year, comprising 3,018 units worth PHP33.2 billion.

Tupaz is optimistic sales in 2018 will exceed last year’s PHP45.6 billion. (PNA)