Amaia Land unveils 2 condo brands catering to low-middle-income bracket

MANILA, Philippines—Luxurious condo-living in Metro Manila need not cost sky-high with Amaia Land Corp.’s Amaia Steps and Amaia Skies condominiums.

Amaia Steps comprises secured communities of mid-rise condominium units, which will be located at the fringes of metro cities while Amaia Skies consists of high-rise condominium towers situated in top commercial and business districts of the metropolis.

“Amaia is proud to bring in Ayala Land’s expertise to the residential economic market segment,” said Amaia Land Inc. president Ricky Celis, who is also assistant vice president of Ayala Land Inc., the parent company of Amaia Land, during a press launch held at the Bahia Lounge, Intercontinental Manila hotel.

Amaia Steps and Amaia Skies are the latest addition to Amaia Land’s property line and these cater primarily to the fast-growing low-middle income market or those that have a steady monthly income between P30,000 to P60,000.

Dy said that low-middle income families now constitute 33 percent of the total households in the Philippines and 37 percent of households in Metro Manila alone.

“We feel that with the introduction of Amaia Steps and Amaia Skies, we will now be able to enrich and enhance the lives of more Filipinos,” Bobby Dy, executive vice president of Ayala Land said in the same event.

The first Amaia Steps will be in Novaliches, Quezon City, while Amaia Skies will be constructed along EDSA in Cubao, Quezon City, said Nikie J. Lingad, Amaia Land’s project development head for vertical projects.

The Amaia Steps Novaliches has a land area of four hectares on which 20 five-story residential buildings boasting modern and contemporary architecture will be constructed with a total of 2,060 condominium units. Units each measure 30 square meters while select units with balconies each have a floor area of 33 square meters. Buyers will also have the option to join two units together, Lingad said.

Prices for Amaia Steps units start at P1.1 million.

Amaia Skies in Cubao will have three 35-story towers built in a one-hectare land right outside the Araneta-Cubao central business district and a walking distance from mass public transport like the Metro Rail Transit. Each tower will house about 1,000 units measuring between 18 and 27 square meters. Price ranges from P1.2 million to P2 million per unit for the Amaia Skies, Lingad saod.

Construction for Amaia Steps will begin early 2012 and units are expected to be turned over in early 2013 while ground-breaking for Amaia Skies will be in mid-2012 and completion in 2015, Lingad said.

The company’s latest property development projects for 2012 to 2016 will be funded through the P2.6 billion additional capital infused by Ayala Land.