Thursday, March 26, 2015

Alveo to duke out P25-B for first half of 2015

A subsidiary of Ayala Land Inc., Alveo is poised to launch new developments costing P25 billion within the first half of 2015. The projects are located in Makati, Bonifacio Global City (BGC), and Quezon City.

The firm plans to launch about 10 new developments per year, according to Robert S. Lao, Alveo President. In 2014 their new launches -- nine developments overall -- cost P33 billion, while the company grossed P36 billion in sales. It has averaged a yearly growth rate of 21 percent over the past three years.

"We are seeing consistently healthy take-ups of our completed projects, which has enabled us to continue to keep on aggressively launching new projects year on year," stated Lao.

"We offer a wide range of residential, office and leisure developments across the country to satisfy the needs of our growing market. This puts us in the best position to take full advantage of the country's economic growth, as we continue to be present in all key CBDs in Metro Manila," added Lao.

"We have a growing middle class exercising their spending power, boosted by higher consumer confidence; so we are sharpening our focus on providing genuine, consumer-relevant, real-estate innovations that will truly make a mark in the industry."

Serving the upper- and middle-income segment, Alveo's projects typically cost P150,000 to P200,000 per square meter. Alveo expects to rake in up to P40 billion in sales for 2015. Up to 15 percent will come from horizontal projects; 24 percent from its office sector; and 55 percent from vertical projects, according to the company.

_____

Sources:
Inquirer.net
Bussiness Mirror

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