Corporate News

Ayala Land reaps P2.9B from initial sales of Nuvali property

Posted on May 07, 2013 12:29:19 PM | BREAKING NEWS

AYALA LAND PREMIER, the upscale brand of listed developer Ayala Land, Inc., has raked in nearly P3 billion in sales from the initial selling of lots at Luscara, Ayala Land Premier’s newest residential development in NUVALI in Laguna.

“Posting P2.9 billion worth of sales during the exclusive priority selling of its first two tranches, Luscara is speeding way ahead in the residential race,” Ayala Land Premier said in a statement on Tuesday.

The number of lots in a so-called tranche, were not yet immediately available on Tuesday morning. Ayala Land Premier is set to hold a briefing at Mango Tree Bistro, Bonifacio Global City on Tuesday to discuss further details on Luscara.

Luscara, a 272-lot, 50-hectare subdivision, follows Ayala Land Premier’s existing Abvrio, Montecito, Santierra, and Elaro projects in NUVALI. At present, regular lots being offered for sale at Luscara range from 600 to 2,090 square meters with a density of five lots per hectare, and a launch price of P15.360 per square meter as of March 1, according to Ayala Land Premier’s statement.

Luscara is located within NUVALI, Ayala Land’s 1,860-hectare integrated township project in Laguna that was formerly an American-owned sugar plantation acquired by statesman and politician Jose Yulo in 1948. Subsequently, it operated as an agro-industrial estate until the mid-1970s, when it was redeveloped into various industrial, residential, and recreational projects, according to NUVALI’s Web site.

“The growth of business, commercial, and recreational developments in NUVALI, as well as the infrastructure that makes it accessible to Metro Manila, further convinced us that a bigger opportunity awaits us in the residential market in NUVALI,” according to May Rodriguez, Ayala Land Premier project development head.

Upon completion, amenities at Luscara will include a multi-purpose field, outdoor benches, open pavilion, a 600-meter long park, and a three-hectare clubhouse that will contain a social hall, fitness area, swimming pool, indoor playground, and multi-purpose court.

“Turnover of lots will start fourth quarter of 2014 for Tranche 1,” Ayala Land Premier said, but without elaborating. -- Franz Jonathan G. de la Fuente