Excerpts from The Philippine STAR interview:
PHILIPPINE STAR: What is the Land and Houses division of Ayala Land Premier all about?
TOM F. MIRASOL: The Land and Houses division handles arguably what the company is most famous for. Put another way, we handle what most people know as the definitive Ayala Land real estate product – premium residential subdivisions.
Names like Forbes Park, Dasmariñas Village, Urdaneta Village, San Lorenzo Village, Bel-Air Village are classics which, although developed as much as 50 years ago, are still sought-after places to live, thanks to committed and active village associations and, more importantly, the foresight of strict deed restrictions.
More recent history saw the development of communities like Ayala Heights, Ayala Alabang, Paseo de Magallanes, Ayala Hillside Estates, Tamarind Cove, and Ayala Southvale as well as houses in such projects as Ferndale Homes and The Legacy at Montgomery Place.
Today, the tradition for quality is carried on in subdivisions such as Ayala Westgrove Heights, Ayala Greenfield Estates, and Sonera at Ayala Southvale Village.
Of course, the opportunity to manage something which is such an important part of our corporate history is a great privilege and something which the whole team works very hard for each day.
What are the L&H projects currently on the market? Can you describe each one (target market, price range, design theme, location, etc.)?
The Ayala Land Premier customer is distinct. Internally, we refer to our clients as the "discerning affluent." These are people who are obviously well-to-do. But more importantly, our customers are those people who know what quality real-estate is. They have high expectations and require personalized service.
They have many reasons for buying our properties – some want the assurance of dealing with a reputable developer (let’s make a distinction between being reputable and being simply "known").
Some want the comfort of living in the best-planned, best-operated communities – we are known for our superior locations, generous open spaces and (sports and recreation) facilities as well as our ability to manage these communities; our operations and maintenance support through Ayala Property Management Corporation is exceptional.
Others want the peace of mind of knowing that their real estate investment is safe. We have a distinguished track record in this regard – one that we are all committed to uphold.
For our customers, this assurance, this comfort, and this peace of mind all express a desire for a certain quality of life – at a level that Ayala Land Premier is all about.
Could you give us a profile of the ALP customer?
Like I said in a speech I gave at the ALP sales conference held last March 7 on the ALP customer, it’s all about attention to detail. It’s about good taste – and about living well. It’s about being relaxed with feelings of comfort and well-being. It’s about knowing that someone has taken the time to think it all the way through, and make it work, for him or for her – personally.
Currently, in the South, we are selling Ayala Westgrove Heights in Sta. Rosa, Ayala Greenfield Estates in Laguna and Sonera at Ayala Southvale Village in Las Piñas. In the North, we are selling The Legacy at Montgomery Place (which is close to selling out this year).
Each has a certain theme to it based on its location, features, and natural landscape. Each is designed to suit certain preferences for either convenience, space, ambience, and character. And while we develop these projects with specific clients in mind, it is not unusual for our customers to purchase properties in several of our projects.
What is the fastest selling and why?
We are very fortunate that all of our projects have the benefit of healthy take-up rates. The reason for this is the attention to detail which we put into our projects – we know our customers and we know what they want now. Just as important, however, is that we anticipate what they will want in the future – even before they know it. Many years ago, we were the first to pioneer underground power and telecom utilities. Today, our customers expect this of us and it has now become our standard.
Our customers also know that we do more than just develop subdivisions – we create communities by encouraging residents to build straight away – by providing village management support, by setting up residents groups and associations and, over time, by providing all of the necessary infrastructure that these communities require such as schools, business districts, shopping and entertainment centers. This is our advantage as a full-line developer.
Do you have a favorite and why?
Well, I couldn’t choose just one. Each one has something about it which is special, even magical. When our customers visit any of these projects they see it, too. I’ve had people tell me how, when they visited, they fell in love. There are enough stories like that to go around.
What sets your projects apart from other developments? Aside from getting exclusivity and hassle-free living, what else do homeowners get?
The Ayala Land Premier encounter is something that is experienced and felt. It is not something which is simply owned. It is something that gives a sense of "specialness," privilege, and well-being.
Stores sell things, but our customers – the discerning affluent – buy experiences. And it is how things perform that links the product and the experience. It is like the way a good pen glides over a sheet of paper. Or the way a premium automobile performs on the road. Or the way a custom-made suit fits and moves just right.
On our drawing boards, with our clients’ and agents’ input, we create communities in superior locations with innovative designs and exceptional engineering – but on the showroom floor, we are in the business of pleasure, of satisfaction and enjoyment.
How do you stay on top?
By providing the kind of attention and care our clients demand, with professionalism and promptness, and by providing the kind of service and thoughtfulness that sets us apart from any other team.
How does your team keep updated on new trends in real estate development?
By always listening to our clients. They are our richest source of information. They tell us what they want – in various ways. And we listen. We look at how they want to live – what concerns they want to address and we find ways to deliver. We encourage innovation in our designs and materials as well as the various technologies we use. Continued exposure to product concepts outside of the Philippines and adapting these to the market’s needs drive innovation.
The bottomline is, it is our clients that set the trends. We just make it possible. Our guys make it happen.
Where do you think real estate in general will be five years from now? Are you optimistic about the market? Do you think more people will be able to buy homes, or fewer people will be able to afford their own home with the rising prices in land?
Real estate in general has been doing well. We are seeing good numbers in everything – from office, to retail, to leisure and residential. Even hotels are showing good numbers.
Yes, we are optimistic about the market – the residential market has resiliency and our customers have access to resources which allow them to make good decisions regardless of the market at any given time.
Our market continues to grow – we set record sales last year and we are hoping to have another great year this year.
How far South do you think urbanization will reach relative to Metro Manila? Do you see any improvements in the way developments are being done? Will we have fewer green spaces in our cities or will others follow One Serendra’s example of providing green spaces for its homeowners? Will we have subdivisions that look like each other?
The SLEX rehabilitation and extension will continue to support the southward growth of Metro Manila. This will result in shorter travel times from the South and consequently will make it even easier for even more people to move there.
Of course, as land in Metro Manila becomes more expensive, open space will become more of a premium. Will others be inspired to follow One Serendra’s example? I don’t know, but if they do, it will certainly result in a more livable city environment.
ALP caters to the high-end market. Could you describe this market: What do they buy, where do they buy, why do they buy, and how?
We serve the discerning affluent. Let me tell you a little bit about them. They LOOK at the same things that everyone else does, but they SEE things differently from most people. Where others see indulgence, they see excellence and value. Where others see excess, they see privilege and satisfaction. Where others see risk, they see an opportunity for a wise, long-term investment.
Consequently, we all need to see things the way they do. And speak to them the way they do. But they are demanding customers. They have many questions which we must answer. They have many needs which we must meet. And they have a lot of time, which we must respect.
The discerning affluent are not always easy clients to satisfy.
When you do your surveys, what is the topmost concern of potential home buyers: exclusivity, location, value for money or design theme?
All of the above.