Driven by the warm response of the investing public to its projects, LPHI plans to open more office buildings in suburban locations frequented by Filipinos on temporary assignments abroad.
Last year, overseas Filipino workers accounted for 25 percent of LPHI’s total sales.
LPHI changed its name recently to Avida Land Corp. Avida is short for "Ave" or celebrate and "vida" or "life". The change of name has been approved by the Securities and Exchange Commission.
ALI president Jaime Ayala said the name was inspired by studies of LPHI homeowners who perceived their homes as milestones in their quest for a better quality of life. "Avida provides homeowners occasions to celebrate life. From hereon, the subsidiary’s projects, which encompass condominiums, residential subdivisions, and farm lots, will carry the Avida brand and logo," Ayala said.
Ayala said the new name is in line with the company’s plans to expand nationwide in the affordable segment. Originally established in 1991 to cater to the housing needs of employees and junior executives in the Ayala Land-developed portion of Sta. Rosa, Laguna, the former LPHI had outgrown its original name. Today, it has 27 projects in 13 locations.
Ayala also disclosed that Avida’s tagline – "affordable living at its best" – conveys the renamed company’s product offering: thoughtfully planned, secure, and easily accessible communities at affordable prices, ranging from P500,000 to P2,500,000 per home. "Because Avida Land is an Ayala Land subsidiary, affordable home buyers, who typically purchase on a pre-sell basis, can have the confidence of dealing with the country’s leading real estate company," Ayala said
Incorporated in 1992, LPHI develops and sells house-and-lot packages, as well as lots only, in residential subdivisions specifically targeted at the low to middle-income market. LPHI constructs houses on-site using pre-cast concrete materials.
LPHI is the leading provider of homes in the P1-million to P3-million price range, currently offers two convenient Metro Manila condos for young couples, professionals as well as Filipinos based overseas.