Thursday, 14 January 2010

Ayala’s Santierra hub tops P1b in lot sales

Jennifer B. Austria
Manila Standard
http://www.manilastandardtoday.com/insideMetro.htm?f=2010/january/13/metro1.isx&d=2010/january/13

Property firm Ayala Land Inc. said on Tuesday it has sold at least P1 billion worth of lots over the weekend at its new residential project south of Metro Manila.

Ayala Land senior vice president Rex Mendoza told reporters during the launch of Santierra said Filipino migrant workers were among the buyers who listed their purchase as end-users.

Mendoza said the Santierra hub, which is a 77-hectare project beside the planned central commercial and business district in Nuvali, was well received by the market as buyers are now starting to see the developments in the Ayala venture.

Phase 1 of Santierra covers 125 lots, of which 108 have already been sold as of Saturday.

Rex said the company had offered 100 lots but more were added to meet strong demand.

Ayala Land said buyers paid in cash or opted for the maximum one-year payment period.

Lot sizes ranges from 600 to 1,200 square meters at P12,200 to P15,200 per square meter.

As designed, the master-planned community will be similar to the Dasmarinas and Urdaneta villages in Makati, close to the Central Business District.

Santierra is the third high-end residential project to be launched in Nuvali, following Abrio and Montecito.

Ayala Land president Antonino Aquino said the company will be spending up to P5 billion more on Nuvali.

He said the next stage would be to expand its retail, office building and residential sections on the 1,750 hectare development in Canlubang, Laguna.

According to Aquino, another office building would be rising to enlarge 40,000 square meter office space catering to business process outsourcing companies.

At least 10,000 square meters of rental space would be added to the present 2,000 square meters.

A joint venture project of Ayala Land and the Yulo family, Nuvali, meaning a new way of living, is about eight times the size of Makati central business district.

Besides Makati and Canlubang, Ayala Land is also responsible for the urban planning and development of Alabang, Bonifacio Global City and Cebu Business Park.

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