MANILA, Philippines - Ayala Land Inc. (ALI) on Tuesday said it is investing P60 billion to develop its newest mixed-use development, High Street South, in Bonifacio Global City, Taguig.
In a press conference, Alveo Land head of project development Jennylle Tupaz said the company is investing P60 billion over 25 years for the construction of 12 to 18 towers in High Street South. This would include residential condominiums, office buildings, hotels and shopping malls.
The 7.6-hectare High Street South is envisioned as a "cultural urban district" in Bonifacio Global City.
To jumpstart the High Street South development, ALI unit Alveo Land unveiled its first residential tower Maridien.
Maridien is a 33-storey condominium building, with 511 units. Prices start at P4.4 million for a studio to P26.1 million for urban villas.
Tupaz said the company expects to generate P5.1 billion in sales from Maridien. Capital investment in the project is valued at P3.5 billion.
Maridien units have been selling like hotcakes so far. Tupaz noted at a recent priority selling event, 222 units, representing 44% of total units, were sold. This generated P2.15 billion in proceeds for the company.
"This is the Alveo Land's residential project to breach the P2 billion-mark during the first day of offering," she said.
Turnover is scheduled by the first quarter of 2017.
Because of the strong sales of Maridien, Alveo Land is preparing to launch the second residential tower by the third quarter of the year.
Tupaz said Alveo Land will aggressively launch projects at a rate of one a month.
Last year, Alveo Land launched a 9 projects involving 2,700 units, as it expanded in Tagaytay, Cebu, Quezon City, Pampanga and Sta. Rosa, Laguna
Philippine Stocks: Atlas, Ayala Land, Megaworld, Metropolitan
January 17, 2012, 3:06 AM EST
By Ian Sayson
Jan. 17 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.
The Philippine Stock Exchange Index rose 1.4 percent to 4,642.76, the first gain in three days.
Builders, Banks: Ayala Land Inc. (ALI PM), the country’s biggest developer, increased 1.8 percent to 16.80 pesos. Megaworld Corp. (MEG PM) advanced 3.2 percent to 1.91 pesos, the highest level since Nov. 22. Metropolitan Bank & Trust Co. (MBT PM), the nation’s second-largest lender by assets, rose 3.7 percent to 76.50 pesos, the first advance in four days. Bank of the Philippine Islands (BPI PM), the nation’s biggest bank by market value, gained 2.4 percent to 59.20 pesos, the highest close since Aug. 18.
Funds sent home by Filipinos working and living overseas increased at a faster pace in November, gaining 10.6 percent from a year earlier to $1.78 billion, the central bank said yesterday. Money sent home by the more than 8.5 million Filipinos living overseas is equivalent to about 10 percent of the economy and helps support home and property sales.
Miners: Atlas Consolidated Mining & Development Corp. (AT PM), a copper and nickel producer, advanced 1 percent to 18.30 pesos. Oriental Peninsula Resources Group Inc. (ORE PM), a nickel producer, rose 3.6 percent to 4.38 pesos, the highest close since Sept. 21.
Copper for April delivery on the Shanghai Futures Exchange climbed as much as 3.6 percent to 60,090 yuan ($9,521) a ton. Nickel for three-month delivery in London rose up to 1.2 percent to $19,665 a ton.
--Editor: Darren Boey
Ayala Land to invest P12B more in Nuvali
abs-cbnNEWS.com
Posted at 01/11/2012 7:29 PM | Updated as of 01/11/2012 7:29 PM
MANILA, Philippines - Property giant Ayala Land Inc. is plowing P12.5 billion into the development of its 1,860-hectare "eco" city in Sta. Rosa, Laguna over the next five years.
This, as the company expects "Nuvali" to contribute significantly to its revenues in the future, said Ayala Land vice president and Nuvali general manager Jun Bisnar.
Last year, Nuvali generated P3 billion in revenues, primarily from the sale of residential lots. So far, Ayala Land has invested P8.8 billion in the mixed-used project, its first and largest master-planned eco community.
To transform Nuvali into the next regional center south of Metro Manila, Bisnar said Ayala Land has lined up several residential, hotel, commercial and office developments in it.
The property firm will launch housing projects under its three brands -- Ayala Land Premier, Alveo Land and Amaia.
Likewise, the company is also expanding the retail segment of Nuvali to add a 10,000-square meter commercial complex called Solenad 2.
A hotel called Kukun, which will cater to businessmen and leisure travelers, is also currently being constructed. The hotel will have 150 rooms, of which 129 will be standard, and 21 will be suites. It is slated for completion by the last quarter of 2013.
Other developments in the pipeline will be recreational, including wildlife and bird sanctuary, bike trails, an events place and a wake park.
According to Bisnar, Ayala Land has so far developed 45% or about 845 hectares of Nuvali's total land area.
Ayala Land unveils residential project in Tagaytay
abs-cbnNEWS.com
Posted at 12/14/2011 6:27 PM | Updated as of 12/15/2011 7:05 AM
MANILA, Philippines - Property giant Ayala Land Inc. on Wednesday launched its low-rise residential and retail development "Kasa Luntian," its first project in the popular leisure destination Tagaytay.
The P1.5-billion project, to be developed under unit Alveo Land Inc., involves the construction of six 5- to 7-storey residential buildings that will cater to middle-income families.
Alveo Land head of project development Jennylle Tupaz said phase one of Kasa Luntian will involve a 3.8-hectare property that will offer a total of 343 units for P4.3 million to P15.1 million.
"Entering Tagaytay with our pioneering endeavor Kasa Luntian is a groundbreaking venture for us. And we aim to bank on the city's continuous development without losing the genuine Tagaytay experience that has made the city of the leading leisure destinations in the country," Tupaz said.
Tupaz said they had sold out 155 units during an exclusive offering to preferred clients.
Due to the strong sales, Tupaz said the company plans to launch remaining units by February next year.
The company expects to generate P2.5 billion in sales from the phase one of the project.
To maintain an eco-friendly environment, Tupaz said 80% of the project will be dedicated for open space and other amenities, including gardens, gazebos, walkways and orchards.
A 1,500-square meter strip of unique shops and dining concepts will also be developed within the property.
Ayala Land unit starts P3B Boni condo project
by Rizal Raoul Reyes, Business Mirror
Posted at 11/16/2011 11:31 AM | Updated as of 11/16/2011 6:19 PM
MANILA, Philippines - Alveo Land, a unit of Ayala Land Inc (ALI) focused on the middle and upper-middle market segments, on Friday launched a P3-billion condominium project in partnership with Bonifacio Global (BGC) as its initial project with the High Street South area in Taguig City.
ALI President Antonino Aquino said the development of High Street South was prompted by the high demand for projects within BGC. “We have seen a lot of demand for projects which have the character in our previous BGC projects,” said Aquino in an interview with the BusinessMirror on Friday.
Aquino added that ALI will carry the same brand of development seen in the Serendra project to High Street South because this has created a lot of appeal and value to buyers. “We noticed the crowd in the BGC loves open spaces and the live-work atmosphere,” he said.
Aquino said future developments in the High Street South area would depend on the market and economic situations of the country. According to Aquino, Alveo plans to build 12 to 15 high-rise buildings within the 7.6-hectare High Street South.
Anton Sanchez III, project development officer at Alveo Land, said the 33-story condominium called Maridien will have units ranging from 40 to 130 square meters. Prices of the units are from P5 million to P15 million. “We will be targeting young professionals for High Street South,” said Sanchez during the interview.
Turnover for the Maridien is scheduled for 2014 to 2015.
Previous projects developed by ALI at BGC include Serendra in 2004, Market! Market! in 2006, and Bonifacio High Street (BHS) in 2007. There are also ongoing developments such as the Mind Museum, Kukun and the extension of BHS.
Jennylle Tupaz, project development group head at Alveo Land, said BGC’s continuous evolution is a sign of dynamism to make property developers aware on how urban hubs should be developed.
“Alveo Land has always lived by our principle to shape and innovate living experiences,” added Tupaz. “And now, we highlight this thrust even further as we unveil an iconic and pioneering Alveo Land district development that takes the best learnings from the most prominent cities across the globe—High Street South,” she said in a statement.
Alveo Land said High Street South is envisioned as a mixed-use development composed of office buildings, commercial developments and residential enclaves.
Ayala Land gets highest credit rating for P4-B bonds
By Zinnia B. Dela Peña, The Philippine Star
Posted at 07/08/2011 7:01 AM | Updated as of 07/08/2011 11:30 AM
MANILA, Philippines - Property giant Ayala Land Inc. (ALI) has retained the highest credit rating of PRS Aaa for its P4-billion bond issue.
According to domestic credit watcher PhilRatings, with obligations rated PRS Aaa are of the highest quality with minimal credit risk, with the obligor’s capacity to meet its financial commitment on the obligation extremely strong.
The rating reflects ALI’s solid brand equity and seasoned management, strong profitability, cash flow and liquidity as well as the company’s sound capitalization structure. The rating also considers the relatively positive outlook for the Philippine property sector in the short- to medium-term.
“The Ayala brand provides a premium and is a major competitive advantage over other domestic property companies. Management’s track record spans decades, enabling it to take advantage of industry upturns while anticipating and weathering difficult challenges,” PhilRatings said.
PhilRatings noted that the company’s balance sheet remains healthy, with much untapped absorptive capacity to support ALI’s aggressive growth plans in the coming years.
Strong cash flows from the pre-selling of various residential launches, as well as proceeds from the company’s recent notes issue brought cash and cash equivalents to P25.6 billion as of end-March 2011.
ALI reported a 33% growth in net income for the first quarter this year to P1.6 billion as revenues rose 15% to P10.6 billion.
The company is pursuing a “5-10-15” plan, by which it intends to achieve, within five years or by 2014, P10 billion in after-tax income and a return on equity of 15%.
