ALI ramps up mass housing developments
THE MASS housing unit of Ayala Land, Inc. (ALI) plans to spend nearly P4 billion for the development of more residential projects in the next five years throughout the country, including in Metro Manila which the subsidiary has begun to penetrate, an official yesterday said.
Ayala Land has infused an additional P2.57 billion into Amaia Land Corp. for a total spending plan worth P3.5 billion to be used for land acquisition and construction until 2016, Amaia Land President Ricky M. Celis, said in a press briefing.
"We are looking at 50 projects and 100,000 units all over the Philippines within five years from next year," he said.
He said that while Amaia already has residential projects in the provinces, the firm would like to increase its presence in Metro Manila by 2012 after starting with two projects in the area this year.
"Next year, we are looking at three to six locations in Metro Manila," he said.
So far, the firm expects to generate P2.8 billion in revenues from its Amaia Steps mid-rise condominium in Novaliches in Quezon City, while P2 billion worth of revenues is likely to come from Amaia Skies Tower 1 high-rise condominium in Cubao, Nikie J. Lingad, head of project development for Vertical Projects at Amaia said in the same event.
The firm, she said, is spending P1.8 billion for the development of Amaia Steps Novaliches, while P1.4 billion is to be spent for the construction of Amaia Skies Tower 1.
"For Amaia Steps and Amaia Skies, we are targeting the ‘C' market, those who are earning P30,000 to P60,000 per month and can afford P8,000 to P12,000 amortization per month,"she said.
"For Amaia Steps, construction will start early next year, while its turnover will be in early 2013," she said.
As for Amaia Skies, she said, construction will start in the middle of next year and its completion is expected to be around 2015.
At present, Amaia has house and lot projects in the provinces of Laguna, Cavite, Nueva Ecija, Pampanga, Batangas and Negros Occidental.
Ayala Land currently operates four residential brands: luxury Ayala Land Premier, upper- and middle-income brand Alveo, affordable Avida, and economic housing Amaia.
Ayala Land shares last traded at P15.86 apiece yesterday, down slightly from Tuesday's P15.94 apiece.
26 October 2011