Ayala infuses P3.5B for affordable housing

Property giant Ayala Land—known for its developments across the board through Ayala Land Premier, Alveo Land and Avida Land Corp.—has announced that it is infusing P3.5 billion in total capitalization to cover land acquisition and development costs for all projects of its newest and most affordable brand to date, Amaia Land.

After last year’s launch of Amaia Scapes, chic residential units known to be the most affordable of Ayala’s houses and lots for the P20,000-P60,000 monthly income bracket (with prices ranging from P650,000 to P1.25 million), in locations such as Northpoint, Talisay in Negros Occidental, Cabanatuan, Nueva Ecija and Gen. Trias, Cavite, ALI has announced its foray in the vertical development through Amaia’s condominium projects ranging from P1.1 million to P1.3 million per unit. This would target what ALI calls the “C+ market segment”—the P30,000 to P60,000 monthly income earners.

This was revealed during an Oct. 26 press conference at the Intercon Hotel Makati.

From the initial P1.08 billion ALI has infused for Amaia, the financial capitalization has increased to a total of P3.5 billion this year, covering Amaia’s upcoming projects from 2012 to 2016. A significant amount would be spent for projects next year.

Amaia targets to be in approximately 60 locations nationwide, with 32 locations for its Scapes, 11 locations for its Steps (mid-rise condominium development) and 15 locations for its Skies (high-rise condominium development), said Ricky M. Celis, president of Amaia Land Corp.

Citing Ayala Land in making its property developments available to the broader market through Amaia to reach out to more Filipinos, Bobby Dy, executive vice president and head of residential and commercial business groups of Ayala Land Inc, said this is a major milestone for the company and unprecedented in Ayala.

He revealed that the broad C market accounts for 33 percent of the 17 million households in the country, which is the second largest sector of the market.

Amaia homes are priced from P600,000 to P1.25 million and are located in commercial district, city limits and growth centers nationwide, Dy added.

With the numerous projects of Amaia nationwide, ALI is driven to be the dominant player in the economic housing sector.

Nikie Lingad, head of Amaia Land’s vertical project development, said the maiden Steps will be located at the heart of Novaliches, while the first Skies project will be located in Cubao, Quezon City.

The first Amaia Steps has 20 5-story residential buildings and one amenity building in four hectares of land in Novaliches. The first Skies in Cubao will be a three-tower condominium to be built on a one-hectare lot. She added that from 2012 onward, Steps and Skies projects will be in 26 locations.