Avida Land eyes P2.8B in sales from new Cavite subdivision

Avida Land Corp., the mid-range brand of Ayala Land Inc., on Tuesday said it seeks to generate as much as P2.8 billion in sales from its subdivision development in Imus, Cavite.

According to Avida Land South Luzon Business Area Head Anne Jara, the company seeks to generate the amount within this year or the first quarter of 2020, through the sales of lots and housing developments in Avida Verra Settings Vermosa.

"If we base it on the takeup, hopefully within this year or first quarter [of 2020]," she told reporters in a press conference in Makati City.

This comes as the development has already sold 57% of the 245 units in Sectors 1 and 2 of the 700-hectare mixed-use estate in Imus.

Preselling of the developments started in November 2018, when prices were at P35,000 per square meter. This has since increased to P38,000.

"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," said Jara.

Avida has made available in the subdivision bi-level homes in a contemporary design across a 10-hectare area.

Priced at P9 million, Macy design has a minimum floor area of 67 square meters, which may be expanded to 250 square meters as buyers may acquire the adjacent lot for a total cost of P12.5 million.

Meanwhile, the Trista model will have 85 square meters for P9.5 million, which may be expanded to 276 square meters for a total cost of P14 million.

"Aside from lots only and house and lots, we are also offering the option of a house and lot and the adjacent lot combination," said Jara.

"This allows buyers to expand and customize their living or outdoor spaces as they see fit."

For a house and lot option, prices start at P7.6 million, while a lot only option will cost buyers P5.7 million.

"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 features such as the central amenity area that includes adult and kiddie pools, basketball court, children's park, and playground and clubhouse.

Scheduled for turnover by 2021, Avida Verra Settings will be minutes away from Vermosa Midtown, the pedestrian and bike-friendly area for mid-rise commercial and institutional developments. —KBK, GMA News