Alveo Land Corp. booked its most sterling result to date, with the upper-middle market developer reporting sales take-up of P12.7 billion.
The figure eclipsed the company’s P10.8 billion sales booked in the first quarter of 2019. It is also a 17.59 percent increase from last year’s P8.9 billion.
“We are very pleased with the extremely strong first quarter sales performance affirming the confidence in the premium market. We are grateful to our clients for their trust in the Alveo brand as we aim to meet their needs in modern, urban and suburban living,” said Joseph Carmichael Jugo, Alveo president.
Alveo caters to the P13 million to P22 million residential market. Alveo said the growth is fueled by successful back-to-back launches of its horizontal developments south of Metro Manila – Sereneo Nuvali and Caleia Vermosa.
Sereneo, Alveo’s sixth project in Ayala Land’s pioneering Nuvali eco-estate in Laguna, posted almost P1.5 billion in reservation sales since it was launched in March.
The Caleia Vermosa is Alveo’s second development in Vermosa in Cavite. Also launched in March, the 28-hectare development generated almost P2 billion in reservation sales.
Alveo also said strong take-up in its residential condominium developments in key cities helped boost sales. Three projects – Park East Place in Bonifacio Global City (BGC), The Lattice at Parklinks and Nuveo at Cerca – delivered significant sales contributions, it added.
Alveo said with the recent turnover of the first phase of its maiden mid-rise condo community, Viento, interest has radiated to its latest residential condo offering, Nuveo, in the 6.6-hectare Cerca district in Ayala Alabang.
