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MANILA, Philippines – Ayala Land Inc, one of the country’s largest property firms and known for its high-end projects, launched on Nov.9 its socialized housing brand Bella Vita in Cavite.
In a statement, Ayala Land said wholly owned unit South Maya Ventures Inc. rolled out its social enterprise housing project that will offer 1,378 units over a 21-hectare property in Barangay Tapia, General Trias, Cavite.
Projects under the Bella Vita brand will offer units starting at P400,000 with monthly amortization pegged at P2,500 to P2,800.
The development aims to cater to minimum wage earners and small enterprises, said Antonino Aquino, ALI president.
The company first entered the socialized housing segment before the Asian financial crisis, but this failed to take off because of challenging economic conditions.
Bella Vita, ALI’s fifth residential brand, will allow the property giant to serve the hugely untapped socialized housing segment, which accounts for half of the more than 3.7 million housing backlog.
The property giant has four residential brands that only serve up to 35% of the population. They are
* luxury brand Ayala Land Premier with price points ranging from P7 million to P20 million
* high-end brand Alveo, from P3.5 million to P7 million
* middle-income brand Avida, from P1.2 million to P3.5 million
* affordable housing brand Amaia, from P600,000 to P1.2 million
What do you think of this move by Ayala Land? – Move.PH