Alveo Land, the high-end residential brand of property developer Ayala Land Inc., expects to generate up to P18 billion in sales of commercial lots within the newly-launched 120-hectare mixed-use district in Laguna.
Alveo Land chief operating officer Rufino Gutierrez said in a news briefing the Broadfield project consists of 80 hectares of a commercial and mixed-use segment and 40 hectares of residential subdivisions.
Gutierrez said phase one of the Broadfield commercial development would cover 36 hectares divided into 87 commercial lots. He said of the 87 commercial lots, 36 hectares were already launched with sizes ranging from 1,324 square meters to 2,915 sq.m., with an average list price of P185 million.
About P2.8 billion of these lots were sold on the first day of the launch. “The market basically wants this product,” Gutierrez said.
He said the target market for the commercial lots are local investors and entrepreneurs who plan to build offices and commercial developments.
Phase 1 of Broadfield is expected to be completed by 2023. “Broadfield’s location sets it at the heart of South Luzon’s thriving residential, leisure, industrial and manufacturing center. We have a well-designed master plan that applies the best practices of Ayala Land in property development. This district will be innovative, sustainable and progressive,” Gutierrez said.
Alveo Land already developed two residential communities in Broadfield including Venido on the northwestern portion and Aveia just across it. Venido is a 22-hectare residential community currently under construction.
Gutierrez said the land values of Ayala Land-owned projects in the south of Metro Manila increased significantly over the last 12 years because of the large infrastructure developments taking place in the area.
Broadfield is just 4 kilometers from Nuvali and 21 km. from Alabang. It is accessible by the South Luzon Expressway through the main roads of Governor’s Drive and the Sta. Rosa-Tagaytay Road.
Broadfield is also near the Laguna Technopark and the Laguna International Industrial Park.
Other established commercial and retail options in the area are Nuvali’s Ayala Malls Solenad, Laguna Central Mall and Paseo Sta. Rosa outlets.
Broadfield is adjacent to the De La Salle University Laguna campus, which is the site of the Shrine of St. John Baptist de La Salle. The school will cover 50 hectares behind Broadfield’s commercial district.