MANILA, Philippines — Alveo Land, the upscale and high-end property unit of Ayala Land, is aggressively launching six projects in the first half of 2015.
Alveo president Robert S. Lao said the company launched The Stiles Enterprise Plaza, an office-condominium development, in Circuit Makati last weekend, and it has already notched P1.5 billion in sales. This represented 37 percent of the project’s total sales value.
He said the six projects have an estimated value of P25 billion, and will be launched one at a time through June.
“The outlook is still very good, that’s why we’re launching almost one project a month, which is difficult to do. We’re that aggressive to launch one project a month… As long as your location is in the CBDs (central business districts), we’re very confident,” Lao said in a briefing at the Alveo office in Bonifacio Global City.
Aside from The Stiles, Alveo is launching High Park Tower 2 in Vertis North, Quezon City; The Veranda East Tower in Arca South, Taguig; Park Triangle Residences in Bonifacio Global City; and yet-to-be-named subdivision projects in Nuvali and Alvierra in Pampanga.
In the second half of the year, Lao said Alveo is expected to launch 4 more projects, a combination of condominiums and subdivisions.
“We’re targeting San Jose Del Monte and Cagayan de Oro,” he said.
The project launches are expected to fuel Alveo Land’s sales growth target of 20 percent this year to P40 billion.
In 2014, Alveo posted P36 billion in sales, the highest ever in its 13-year history but a 16 percent increase from a year ago.
Last year, the company launched P33 billion worth of new projects in Bonifacio Global City (Park Triangle Corporate Plaza, Verve Residences Tower Two) and Arca South in Taguig (Veranda West and South Towers), Circuit Makati (Solstice Tower Two), Nuvali (Lumira), Cavite (Westborough), and Quezon City (High Park Tower One).
Lao said in the last three years, Alveo posted an average growth of 21 percent. Its revenue contribution to Ayala Land reached P17 billion in 2014.
To distinguish itself from luxury unit Ayala Land Premier’s projects, Alveo’s price points are usually 20-25 percent lower than ALP.
For instance, in Bonifacio Global City, an Alveo project would command between P160,000 to P175,000 per square meter, while an ALP project would sell for around P200,000 per square meter.
“In most of the townships of ALI, we’re the dependable anchor in Makati, BGC…In terms of opportunities, we have better land support than the other groups. We’re able to sustain our growth rate at 21 percent in the last three years, and that’s because of the land opportunities we have,” Lao said.
Lao said Alveo is targeting to boost its acquisitions this year to sustain growth for future projects. In particular, the company is looking at Cavite, Laguna, Bulacan and Batangas.
The company, formerly known as Community Innovations, was rebranded as Alveo in 2008.
***Published in ABS-CBN News last March 3, 2015. Original article can be found HERE.