ALI unveils new Nuvali project
PROPERTY giant Ayala Land Inc. has unveiled a new upscale village project in “eco- community” Nuvali in Laguna: the 85- hectare Riomonte, which brings to the property market close to P9 billion worth of new residential lot inventory targeting people seeking “nature- centric” living space.
In a briefing yesterday, Jose Juan Jugo, head of ALI’s luxury real estate arm Ayala Land Premier ( ALP), said about 844 lots were made available in Riomonte with lot cuts ranging from 480 to 890 square meters priced at P18,250 to P26,650 a square meter.
Since ALP launched the first residential project in Nuvali in 2007, Jugo said residential lot prices in Nuvali had gone a long way from P9,000 per square meter amid brisk demand.
He attributed this to Ayala’s track record in building luxury villages, including Forbes Park, Dasmariñas, Magallanes and Ayala Alabang.
Riomonte—at Nuvali South in Barangay Canlubang in Calamba City, Laguna—is the seventh luxury subdivision offered by the group in the Nuvali estate.
This project targets early to empty nesters, entrepreneurs with business or factories within the region and investors buying to lease, resell or for the future use of their descendants.
The new village is based on a unique, five-pocket neighborhood concept interconnected by a network of parklands or greens. A main park extends 700 meters across the development, where it connects to the 4.5hectare Ridge Park on the western side. Surrounding Riomonte are eight to 10-meter landscaped perimeter parks that serve as buffers to ensure that the security and privacy of residents are maintained.
Turnover of the residential lots in this new village is expected starting 2018.
“Our sales take-up in Riomonte has been exceptionally strong over the past few weeks. We have been seeing almost P100 million in sales per day since our launch last May 31,” said Mike Jugo, ALP’s head of sales.
Around 50-60 percent of lot sales in this village are estimated to come from end-users, who tend to build houses faster than investors who intend to resell the property in the future.
ALP launched its first residential subdivision in Nuvali in 2007, the 70hectare Abrio. This was followed by Montecito, Santierra, Elaro, Luscara and just last year, Soliento.
“The average selling price of an ALP Nuvali lot in 2007 was P9,000 per sqm. That figure has now appreciated to as much as P30,000 per sqm in 2015 or an equivalent of 91-percent increase,” said Catleya Moya, project development head for ALP.