MANILA – Megaworld Corp. generated PHP3 billion in sales from its first upscale residential village in Cavite which was sold out last month during the nationwide community quarantine.
In a statement Monday, Megaworld said sales from the 18-hectare Arden Botanical Village peaked during the second quarter at almost PHP1.4 billion covering 133 lots.
The residential project was launched inside the 251-hectare Arden Botanical Estate seven months ago.
“Amid the lockdown, we have booked sales from buyers in the Philippines and across the world who were looking for purposeful, more livable spaces to build a house,” Megaworld first vice president for sales and marketing Eugene Em Lozano said.
The real estate developer said two price increases implemented in January and May this year further pushed more take-ups from both international and local property buyers searching for residential lots near Metro Manila.
From PHP23,000 per square meter in December last year, lot prices in the village soared to PHP31,000 per square meter in May this year, or a 35-percent increase in less than a year.
“A PHP7-million lot bought when we started selling late last year can now be sold at almost PHP9.5 million. Our early takers are so happy with their investments today,” Lozano added.
Turnover of lots in Arden Botanical Village is scheduled to start in 2024.
Known to be a ‘sustainable’ estate, Arden Botanical Estate is a joint development of Megaworld and its subsidiary brand Global-Estate Resorts, Inc. (GERI).
Both companies are spending PHP18 billion to build the integrated lifestyle community in the next 10 years that will be highlighted by flower farms and gardens. (PR)
