By James A. Loyola, Manila Bulletin
Real estate giant Ayala Land Inc. (ALI) may exceed its target of selling 9,000 residential units this year as it has already sold 6,000 units as of the end of June, 2010.
In an interview, ALI president Antonino Aquino said "we feel quite good about it" but opted to be more conservative and qualified that performance in the second semester will depend on market take up.
In the second quarter of the year, Aquino said they are seeing similar levels of consistency as the strong 32 percent core net income growth in the first quarter of the year to a record P1.2 billion.
"We are heartened by the strength of the market," said Aquino adding that ALI continues to be optimistic about prospects in the real estate market and expects this trend to continue until next year "barring any major surprises" in both the global and local economies.
Aquino explained this is why the firm is making major investments to put up various projects that are expected to provide revenue and income streams for the next five years.
For Bonifacio Global City alone, ALI is investing P10 billion for various projects to be launched in July and August including the expansion of the highly successful Bonifacio High Street (BHS) commercial and retail strip.
In addition to the existing BHS East, ALI will be developing BHS Central and BHS West which will feature a water plaza, the P1-billion Mind Museum, more high-end retail spaces and restaurants as well as mid-rise office buildings.
Ayala Land Premier has also launched the P6-billion West Tower at One Serendra, the second of a two tower high-end development for which it is investing P4 billion over the next two years.
ALI senior vice president for sales and marketing Rex Mendoza said they have already received letters of intent for units worth P2.7 billion or about half of the 372 units offered in West Tower upon its launch. He expects the entire project to sell for up to P8 billion as unit prices are sure to appreciate over time.
Mendoza said The West Tower offers buyers a final chance to be part of its uncommon urban sanctuary, One Serendra which boasts of a unique location in Bonifacio Global City, a flourishing environment within, and graceful spaces in the units.
"We are combining the comforts of larger, more thoughtfully planned living spaces, greenery and open spaces usually found in subdivisions with the conveniences of access only in an urban location like BGC provides," he said.
The West Tower also offers some limited edition units going for as high as P75 million for one of two Sky Pool units which measures 400 square meters and features a 20 square meter indoor pool