Ayala Land Premier, the high-end residential brand of property developer Ayala Land Inc., expects to raise P11.3 billion from sales of residential lots at soon-to-be-launched residential development called Cerilo in Laguna province.
ALP managing director Michael Jugo said in a news briefing the 8.5-hectare development would offer 623 residential lots with size ranging from 520 square meters to 1,300 sqm.
Jugo said at an average price of P26,540 per sqm, the lots would cost between P11.5 million and P43.1 million, each.
Jugo said the master planned community would have an average density of only seven lots per hectare, providing a heightened feeling of privacy and exclusivity for future residents. Turnover of the lots is slated by the third quarter of 2020.
Jugo said the project would offer a two-hectare clubhouse area with a social hall, multi-purpose court, swimming pool and residents lounge. It would also have an adjacent two-hectare retail space envisioned to cater to future residents and the surrounding villages.
Meanwhile, ALP said it posted record revenues of P8.1 billion in the first quarter, a 26 percent increase from a year ago.
Jugo said the strong sales from newly launched Park Central Towers at the corner of Paseo de Roxas and Makati Avenue significantly contributed to ALP’s first-quarter results.
“The luxury property market has responded very well to Park Central Towers because of several features that are unique to this project, foremost of which is the prominent corner location and immense land area of the development,” Jugo said.
Park Cental Towers also boasts of ultra-luxury amenities such as the four-story Sky Terraces, an expansive amenity podium that will house a 300-sqm fitness center, a 700-sqm multipurpose court, swimming pools, resident’s lounge and spa.
The development will rise on top of a 10,000-sqm retail mall which will provide the luxury of convenience for Park Central’s highly discerning residents.