By Leslie D. Venzon
MANILA, March 3 (PNA) — Listed property giant Ayala Land Inc. affiliate Alveo Land expects to maintain its high growth trajectory of at least 20 percent this year on the back of more product launches, encouraged by growth in real estate sector amid robust Philippine economy.
”The country is growing –you have foreign investors coming in, business booming across various sectors, and a renewed faith in the Philippine economy driven by an upgraded credit rating,” said Robert Lao, President of Alveo Land, in a press briefing.
Lao also cited the growing middle class exercising their spending power, boosted by higher consumer confidence.
”Real estate values are also relatively lower in the Philippines compared to neighboring countries, yielding better return on investments,” he said.
Lao expressed optimism at sustained growth this year after the company posted an impressive 21-percent growth rate for the last three years, generating Php36 billion in 2014 alone.
Lao bared that for the first half of 2015, product launches would amount to about Php25 billion worth of new inventory in Makati, Bonifacio Global City in Taguig, Quezon City, NUVALI commercial/residential district in Laguna and Pampanga.
He said these projects include The Stiles Enterprise Plaza in Circuit Makati, High Park Tower 2 in Vertis North in Quezon City and the Veranda East Tower in Arca South and Park Triangle Residences in Bonifacio Global City.
Lao said the company targets to launch a residential subdivision project in NUVALI and a new one in its township development project in Pampanga this first semester.
He said it will also embark on four more projects in the second semester comprising subdivision and condominium projects in Bulacan and Cagayan de Oro.
“(The outlook) is very good. That is why, we are launching almost one project every month which is difficult to do. But we are that aggressive to launch one project every month in the first half (of the year),” Lao further said. (PNA)