ALI creates new brand for mass housing
Property giant Ayala Land Inc. (ALI) has created a fifth residential brand-South Maya Ventures Corp. – to sell units worth not more than P400,000, marking its foray into mass housing.
In its disclosure to the Philippine Stock Exchange, ALI said the first project under this new brand would rise on a 10-hectare lot in Gen. Trias, Cavite and is slated for launch in the last quarter of the year.
ALI is also ramping up construction of economic housing units under the Amaia brand, which is touted to become the biggest residential brand of the Ayala conglomerate in five years. The company has earmarked P1.08 billion for Amaia Land over a three-year period.
The first Amaia project, located on a 20-hectare property in Calamba, Laguna, is expected to rake in P1.6 billion from the sale of 1,828 units. House-and-lot units will sell for P600,000 to P1.25 million each, with lot sizes of up to 75 square meters. The target market is families earning up to P50,000 a month.
Amaia is planning six more projects in Cavite, Laguna, Batangas, Bulacan and Pampanga for a total of 12,000 units, competing head-on with mass housing builder Vista Land, DMCI Homes and Phinma Property Holdings Corp.
There is an estimated shortage of 3.8 million housing units in the Philippines, primarily in the socialized and low-cost categories.
The Philippine Star
01 September 2011
By: Zinnia B. Dela Peña
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