Ayala Land eyes Php8.8-B sales from new Nuvali residential project

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MANILA — Ayala Land Premier (ALP), the luxury real estate arm of Ayala Land, Inc., expects to generate over Php5 billion in sales revenue from the three neighborhoods of its latest Nuvali project in Calamba City, Laguna.

ALP’s Head of Sales Mike Jugo said the company is set to launch this month 175 more lots for third neighborhood of Riomonte, its seventh residential project comprising five-pocket neighborhoods.

Jugo said the two other neighborhoods will commence by the second semester of 2016. The total sales value of all five neighborhoods is around Php8.8 billion.

ALP has reported sales worth Php2.7 billion or 72-percent sales take-up for the first two neighborhoods of its 85-hectare residential development.

“Our sales take-up in Riomonte has been exceptionally strong over the past few weeks. We are seeing almost Php100 million in sales per day since our launch last May 31,” he said.

ALP Managing Director Jose Juan Jugo said the two neighborhoods are expected to bring about Php3.7 billion worth of new inventories.

Lot sizes in Riomonte range from 480 square meters (sqm) to 890 sqm. With launch prices ranging from Php18,250 to Php26,650 per sqm., Riomonte’s average lot goes for Php10.

3 million.

ALP expects to turn over the lots by 2018.

ALP successfully launched in Nuvali other residential subdivisions of Abrio (2007), Montecito (2009), Santierra (2010), Elaro (2011), Luscara (2013) and Soliento (2014).

With the project’s brisk sales, Jugo said the company will embark on more subdivision projects in Nuvali, noting it has over 400 hectares of land in the area.