Avida Land eyes P3.6 B sales

MANILA, Philippines -  Avida Land, the middle-income housing subsidiary of property giant Ayala Land Inc., is targeting P3.6 billion in sales from its projects in South Luzon.

The company launched the second phase of the 21-hectare Avida Settings Lipa, its seventh project in Batangas.

The project offers house and lots in three different models and lots only. Land value at launch was at P14,600 per square meters.  This has now risen to P15,800 per sqm in just three months.

“In Batangas, majority of house and lot buyers are growing families who want to upgrade their lifestyle. They usually need bigger living spaces and search for a secure and quiet community for their children,” said Avida AVP for Project and Strategic Management Group Herbert Herrero.

Phase one of the project has  been 70 percent on its first month, Herrero said.

House and lot packages range from P4.8 million to P8 million while lots are priced at P1.6 million to P4.6 million.

The community is located along JP Laurel Highway and is in close proximity to schools, malls and transport terminal.

In the subdivision itself, Avida Land will put up a 1.4 hectare central amenity area with preserve trees, children’s and adult swimming pools, basketball court, playground, picnic area and multi-purpose hall.

The company’s other projects in Batangas have almost 2,000 households. These are located in San Isidro, Lipa, Sto. Tomas and San Pascual.

With Avida Settings Lipa, the property firm aims to further strengthen its South Luzon residential portfolio, which at present contributes up to 70 percent of Avida’s total house and lot sales.

He said the company sees high demand for mid-scale housing in these areas which could further spur growth in the region.

Avida has some 20 residential projects in Laguna, Cavite and Batangas which are now homes to over 10,700 households.