SUMMARY
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MANILA, Philippines – Ayala Land, the property arm of the Ayala conglomerate, has launched a new green-themed residential subdivision in its flagship development in the south, Nuvali.
The new subdivision dubbed “ Cerilo” is an 85-hectare residential community that is built on the undulating terrain inside the Nuvali estate in Sta Rosa Laguna.
The master planned community, the firm noted, was designed with around 80% of the houses adjacent to an open space and with an average density of 7 lots per hectare. The community will have a total of 623 lots available.
For the first phase, the firm plans to sell an initial 308 lots worth P5 billion. The average size of lots is 680 square meters.
Sales are set to begin on June 9 for preferred buyers. Lots will be open to the public on July 2. Turnover for this first phase is set for Q3 of 2020.
Ayala land Premier Managing director Mike Jugo pointed out that the firm is expecting to attract a younger demographic looking to live away from Metro Manila but remain within commuting distance of the crowded metro.
“Buyers in Nuvali are different from condominium buyers as we see a lot more end users and a younger crowd, people aged 30-40 looking to build their house. They have common requirements, they want to live in more space, natural light and still be adjacent to schools,” he said at the launch of the development on May 29.
“Maybe 30-40% of buyers are investors, clients purchasing land for families as future store of value,” Jugo added.
In line with the green theme, Cerilo will feature a main park of over 6 hectares with other linear parks and bike trails spread around the development. There are also plans for a 2-hectare retail space envisioned to cater to future residents and the surrounding villages.
Appetite for luxury
Cerilo will be the 8th residential complex in Nuvali under Ayala Land’s luxury brand, Ayala Land Premier.
The brand has sold about 2,800 high-end residential lots with a combined worth estimated at P33 billion from its past 7 projects in Nuvali.
Ayala Premier announced sales of P8.1 billion for Q1, marking a 26% increase from the same quarter last year and driven by sales of two high-end condominiums, Park Central Towers in Makati and West Gallery Place in Bonifacio Global City.
For the past 4 years, Ayala Land Premier has posted annual residential sales of P4 billion.
The strong start by its high-end brand has helped Ayala Land record consolidated revenue revenues of P31.64 billion and a net income of P5.56 billion for Q1, up by 18% from P4.71 billion seen last year.
Besides Cerilo, Ayala Land Premier plans to launch 3 other projects this year.—Rappler.com
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