Ayala Land eyes sale of 12,000 housing units in three years (GMA News TV)
Ayala Land, Inc. is aiming to sell 12,000 economic housing units in six locations outside Metro Manila in the next three years under new unit Amaia Land Corp.
Bobby Dy, head of the company's Residential Group, said they would offer their first economic housing project called Amaia Scapes Laguna in Calamba next month with a project cost of P1 billion.
Ayala Land expects to generate P1.6 billion from the sale of 1,828 units at Amaia Scapes. Aside from the 20-hectare property in Calamba, the property developer will build 10,172 more units in Cavite, Batangas, Bulacan, Pampanga and Tarlac.
Dy said the demand for housing started to increase in the second half of last year. "There was an increasing level of interest in the projects that we offer. We're quite hopeful this year will be much better than last year," he added.
Ayala Land will cater to a broad affordable market segment made up of civil servants, manufacturing employees, small business owners, starting professionals and families of Filipinos working abroad.
It will offer 30- to 75-square meter house and lots that cost P600,000 to P1.2 million. It intends to offer economic housing to families that earn P20,000 to P50,000 a month.
Ricky Celis, chief operating officer of Ayala Land, said families in the socioeconomic bracket make up about a third of the more than17 million households nationwide.
The housing backlog is about 3.8 million to 4.2 million.
Ayala Land is seeking to spend P1.08 billion on projects in the next three years, Ayala Land President Leo Montenegro said. The company, he added, was aiming to to sell 400 housing units at Amaia Scapes Calamba this year.