Alveo Land Inc., the high-end residential arm of Ayala Land Inc., on Tuesday unveiled a plan to launch P40 billion worth of residential and office building projects this year.
Alveo Land president Robert Lao said in a news briefing the company was preparing to launch six projects with total sales of P25 billion in the first half.
These projects include the Stiles Tower, an office development in Circuit City in Sta. Ana, Makati; High Park Tower 2 in Vertis North Quezon City; The Veranda East Tower in Arca South Taguig City; Park Triangle Residences in Bonifacio Global City; and two horizontal developments in Nuvali and Pampanga.
Lao said given the company’s aggressive launches this year, Alveo Land’s reservation sales were also expected to increase to P40 billion from P36 billion in 2014.
He said over the next three years, Alveo Land’s reservation sales would grow 20 percent annually amid the positive outlook on the domestic economy.
“We have a growing middle class exercising their spending power, boosted by higher consumer confidence, so we are sharpening our focus on providing genuine consumer-relevant, real estate innovations that will truly make a mark in the industry,” Lao said.
Alveo Land posted an impressive 21 percent average growth rate over the past three years, primarily from sales of vertical developments.
It said this year, the office sector was expected to account for 33 percent of total sales, up from 20 percent in 2014 as the company planned to launch more office for sale projects.
The share of horizontal developments in total sales this year is also expected to go up to 22 percent from 15 percent in 2014 while the share of vertical developments to total sales is projected to reach 55 percent from 65 percent in 2014.
Alveo Land launched nine new projects with total sales value of P33 billion in 2014.