Ayala Land Inc. has ventured into Tagaytay’s leisure estate market for the first time with the launch of a low-density residential-resort community for urban families seeking a tranquil mountainside weekend address.
In breaking into Tagaytay’s leisure estate market, ALI brought in its middle-income unit Alveo Land to invest P1.5 billion to develop the first phase of the new project, “Kasa Luntian,” which will offer 343 units in a lush three-hectare property.
“Entering Tagaytay with our pioneering endeavor Kasa Luntian is a groundbreaking venture for us. And we aim to bank on the city’s continuous development without losing the genuine Tagaytay experience that has made the city one of the leading leisure destinations in the country,” said Jennylle Tupaz, head of project development for Alveo Land.
There will be six buildings with five to seven stories. In a priority selling event held by Alveo last December 3, during which 155 units were initially made available, 97 percent was immediately taken up mostly by Metro Manila-based families, Tupaz said.
Alongside increasing urban consumer affluence in the Philippines, demand for second homes is seen being driven by an increasing desire for family bonding. Alveo, as a brand, targets the so-called “urban achievers,” including the young upwardly mobile professionals or “yuppies.”
Once all 343 units in the first phase are sold, this will generate P2.5 billion in sales value for Alveo Land. The units will be turned over to buyers starting the third quarter of 2014.
“Kasa Luntian” is conceptualized to be very much different from Alveo’s successful urban condominium projects. The units are much bigger with generous balconies and verandas. The open space and amenities account for 80 percent of the total footprint.
The smallest are studio units at 39 to 41 square meters and are selling for around P4.3 million. The 55- to 57-square-meter, one-bedroom units are priced at P6.6 million. The two-bedroom units at 85 sqm are priced at P10.3 million while the largest units are 104-141 sqm priced at P15 million.
Bulk of the units for sale are in the P4.3 to P6.6 million range, Tupaz said, distinguishing the project from the offerings of upscale affiliate brand Ayala Land Premier.
The development is envisioned to be adorned with themed pocket gardens that feature lush landscapes and thick foliage, complemented by laid-back amenities.
“For family gatherings and family-oriented activities, Kasa Luntian will offer a cozy treehouse, refreshing nature trails and tranquil community lounges per building. Future residents can also take pleasure in the serene setting heightened by Kasa Luntian’s exclusive outdoor amenities,” Tupaz said.