Posted by: Icel Dy | October 4, 2008

Ayala Land eyes P4.5B from Abrio’s Premier Lots

Ayala Land eyes P4.5B from Abrio’s premier lots

By Charles E. Buban
Philippine Daily Inquirer
First Posted 00:24:00 09/13/2008

MANILA, Philippines—Thirty lots remaining. While this number would seem insignificant for a development that offers 378, these last few remaining lots are in fact the best and most exclusive in Abrio, according to its developer, Ayala Land Premier (which takes care of Ayala Land’s premium residences).

Abrio is ALP’s first flagship neighborhood as well as most valued address in Nuvali in Canlubang, Laguna.

“We’ve saved the best for last. While we even held a lottery just to accommodate Abrio’s huge influx of buyers, we decided that doing the same for these last 30 lots is no longer necessary,” announced ALP head Bobby Dy.

Highly strategic

Abrio occupies a highly strategic location within Nuvali as it is close to the planned business district, retail center and lake of the future ecopolis.

“Getting to Nuvali takes about 50 minutes from Makati through the Sta. Rosa Exit of the South Luzon Expressway. A new road connecting Nuvali directly to the Mamplasan Exit of the SLEX road will even make Nuvali more accessible,” Dy said.

He added that aside from its location, Abrio’s masterplan provides an extremely high degree of privacy for residents, even in common area.

In fact, Abrio will offer a building density of only 5 units per hectare. The rest will be devoted to greenery.

“Abrio as well as the rest of Nuvali will have a mix of residential, retail and office areas and will be developed as a community that will encourage its residents and visitors to walk, use a bike, or even take a water taxi to most places (a man-made lake will be built to serve as a serene backdrop as well as as a fire reserve for the community),” Dy described.

Letters of intent

Because of Abrio’s promise of an extraordinary level of privacy, exclusivity and security, Dy reported having received 400 letters of intent for the first 113 lots in Abrio (when ALP launched it in the third quarter of last year), prompting the lottery.

The result was indeed, phenomenal considering that Abrio’s 113 lots were sold out in just two hours and in the process generated P1.2 billion in sales.

Ayala Land Inc.’s SVP and Corporate Marketing and Sales Group head Rex Mendoza expects the same for the remaining lots that will be sold for P14,000 to P15,000 per square meter (a lot would range between P14 and P16 million).

This price is relatively higher than the ones sold earlier because these few remaining lots offer a direct access to the main park as well as to the village clubhouse.

P4.5 billion

“We expect to generate some P4.5 billion from these last few remaining lots,” Mendoza informed.

The 17-hectare Abrio offers homeowners large lots ranging from 800 to 1,200 square meters, with vast spaces between houses as a result of a 16-meter carriageway and a four-meter bicycle lane.

Mendoza informed that the properties sold will be turned over in March next year.

To encourage owners to immediately build their houses, Mendoza added that the company is giving as much as P2 million in rebates to the first five homeowners, while the next five will get P1.5 million. The remaining five homeowners will get P1 million in rebates.

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