Avida Land Corp., a unit of property giant Ayala Land Inc., said it will raise as much as P2.8 billion from its first subdivision development project in Imus, Cavite.
Avida Land’s South Luzon project strategic management group head Anne Jara said Avida Verra Settings Vermosa would offer lots and house and lot developments within the 10-hectare property in the 700-hectare Vermosa mixed-use estate.
The project will offer a total of 370 units at P38,000 per square meter.
“Avida Verra Settings Vermosa is our first and only Cavite subdivision within an Ayala Land estate. This allows home buyers access to all the developments in the estate while enjoying a healthy, sustainable environment,” Jara said.
The company started pre-selling the project in November. To date, 57 percent percent of the house and lot units have been pre-sold while the lot only units were been sold out.
“Aside from lots only and house and lots, we are also offering the option of a house and lot and the adjacent lot combination. This allows buyers to expand and customize their living or outdoor spaces as they see fit,” Jara said.
For a house and lot, the price starts at P7.6 million while a lot only option will cost buyers P5.7 million.
Avida Land aims to attract families seeking upgraded homes ready for future expansion. These are buyers with established professions and a monthly household income of P150,000 and above.
“The project will attract some residents from Metro Manila as well as those who want to relocate to a suburban environment that encourages an active lifestyle,” Jara said.
Avida Verra Settings will have a central amenity area that includes adult and kiddie pools, basketball court, children’s park and playground and clubhouse. Open spaces and landscaped areas will also be part of this fenced community.
Avida Verra Settings Vermosa, which is scheduled for turnover by 2021, is Avida Land’s seventh development in Cavite.
The horizontal developments cover 116 hectares across the province with a total of 4,200 house and lot units and lot only units.
Avida is also offering mid-rise residences in Tagaytay—Serin East and Serin West-designed with a vacation condominium concept.