Alveo sells P2.8B lots in Broadfield

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    Laguna Alveo Land Corp. said it has initially sold around P2.8 billion worth of lots in its latest Laguna project.

    The 120-hectare master planned, mixed-use Broadfield will have 80 hectares for commercial and mixed-use and 40 hectares for residential subdivisions.

    It will developed in phases., the first phase of which will cost Alveo P6.7 billion and is expected to be completed by 2023.

    Broadfield has allocated 36.6 hectares for commercial use for the first phase of the project.

    Tranche 1 has a total of 35 commercial lots ranging in size from 1,324 square meters (sq.m.) to 2,915 sq.m, with an average list price of P185 million initially offered.

    Approximately P2.8 billion of these lots have been sold on the first day of launch,” said
    Rufino Gutierrez, Alveo Land chief operating officer, said the company has so far developed two residential communities in Broadfield — Venido on the northwestern portion and Aveia across it.

    Venido is a 22-hectare residential community currently being constructed. Aveia’s initial phases started turnover this year.