ALI ramps up Nuvali project dev’t in Sta. Rosa

With demand outstripping supply, real estate giant Ayala Land, Inc. is ramping up the development of its Nuvali property in Laguna and is spending P3 billion to P5 billion over the next year and a half to put more products in the market.

Ayala Land president Antonino Aquino said they are becoming more active in developing the 1,705 hectare mixed-use community project in Sta. Rosa and Calamba, Laguna as they see better prospects on the back of the market recovery.

To start off, ALI unveiled its latest residential product in for Nuvali while announcing plans to build more structures for its office and commercial components.

Ayala Land launched the Santierra community under the Ayala Land Premier brand, which caters to the high-end market. This is the third project to be launched by Ayala Land under the Premier brand.

The firm plans to sell a total of 540 lots out of the 70 hectare property allocated for the project. The project is expected to cost the firm P1.5 billion to develop.

Santierra lots range between 600 to 1,200 square meters with selling prices ranging from P12,200 to P14,200 per sqm. There will be an additional premium for added features like corner lots, premium view and additional space or greenery.

Since being offered for sale, Santierra has earned the distinction of being the highest grossing project to sell on an opening day/weekend sale, grossing P1.08 billion from the sale of about 100 lots. Set for initial development will be 124 lots for phase one.

Ayala Land vice president for sales Bernand Vincent O. Dy said they are also looking to build more office space for the business process outsourcing sector, as uptake for BPO space remains strong in areas outside Metro Manila.

Meanwhile, Nuvali’s retail space will be expanded by another 10,000 sqm. from the current 2,000 sqm.

Source: Manila Bulletin