Discovering new opportunities
WHEN planning for their next venture, home developers often look to capturing the "sweet spot" that is, the price package at which home buyers would feel most comfortable with in investing their hardearned money.
"You can't set your price too high or too low as most home buyers will most likely ignore you. Based on our experience it would be advantageous if you have projects with prices ranging from P750,000 to about P3 million. We also realized that this is also the price range wherein we could deliver more homes and at the same time help decrease the country housing backlog," believed Romarico Alvarez, chair of PA Properties.
Alvarez related that for the past several years, the sale of homes that fall within this price range remained robust.
"We feel this is where our strength lies. For the past 21 years, we are able to deliver communities that are still thriving and help our 15,000 home owners enjoy quality life," said Alvarez.
As PA Alvarez celebrates its 21st year, PA Properties president Jonathan Lu shared that the company is taking advantage of the improving road network to build more communi- ties in previously untapped locations.
"Thanks to the recent link up between South Luzon Expressway (SLEx) and Southern Tagalog Arterial Road (Star) Tollways for example, PA Properties was more emboldened to invest in provinces like Batangas where we now have NuVista Lipa, a 12.8 hectare property strategically located at Antipolo del Norte, which is in a valley between Mount Malarayat and Mount Makulot," said Lu.
He informed that NuVista Lipa, which has another 30 hectares reserved for future expansion, is a follow up to the very first NuVista the company built in San Jose del Monte, Bulacan. "We are so inspired by the success of NuVista San Jose, a sprawling 30-hectare community of around 2,800 homes, that we decided to do a similar one in the south. We noted that home buyers appreciate communities that are easily accessible via major thoroughfares. Incidentally, the Circumferential Road 6 or C-6 will soon pass by this part of Bulacan," said Lu.
Interesting trend
Another interesting trend home buyers also appreciate is the addition of commercial establishments within or near a development that enable residents to travel less should they need to buy stuffs or do something," explained Lu.
True to the company's anniversary theme, "Turning a New Leaf at 21," PA Properties is now looking at venturing into commercial developments.
"From just building quality homes that could be afforded by most Filipino families, we realized our buyers also long for residential developments that could provide them opportunities and tools to build assets, to participate in their communities, and to become part of the mainstream economy," said Alvarez.
Alvarez informed that PA Properties is now studying plans on how to integrate commercial establishments that would make its current and future communities become more sustainable. "We want to build a community wherein the most important basic needs of a family such as dry and wet market, retail stores, church and school are very accessible," he said.
Like the two NuVista developments, the company's current and recently completed projects are communities that not only are located along main thoroughfares but also offer a mix of uses, with many of its residents' daily needs within a short walk or ride of their home.
"Whether we are building sprawling communities like the Bridgepointe Place in San Fernando, Pampanga, St. Joseph Ridgeview in Dasmariñas, Cavite and St. Joseph Homes Cabuyao in Laguna or mid-rise condominiums like San Jose Residencias in Sta. Rosa, Laguna, East Residences in Pasig City and The North Grove in Caloocan City, we aim to integrate a mix of uses closer together, including greater access to options for dining out, shopping, transportation, recreation, education, employment, and even place of worship," said Lu.
Even if PA Properties has grown tremendously, the company assured it will remain true to its roots. "I will never forget that day back in September 1993 when I was tasked by my father to oversee a familyowned 2.3-hectare farmland in San Pedro, Laguna that was converted into a residential subdivision. For someone with no previous experience in real estate, it challenged me," remembered Alvarez.
Pouring all of his efforts and talent into St. Joseph Village 1, he was able to sell out all the 205 housing units in less than four months.
"This experience has always been my inspiration and guidance and whatever endeavor our company will embark on in the future, I will always go back to this moment in order to make the right decision," said Alvarez