AboitizLand lines up P2.3 B Luzon projects

AboitizLand, the real estate arm of conglomerate Aboitiz Group, has entered the Luzon market with P2.35 billion allotted for four major projects this year.

The company is moving out of its Cebu hub and is set to develop residential and commercial projects in Batangas, Tarlac and Nueva Ecija.

It will develop an initial 83 hectares of land, AboitizLand said.

“We saw huge potential in terms of land development in Luzon and we are very keen on becoming stronger players in the national scene while maintaining our foothold in Cebu,” said Rafael de Mesa, AboitizLand vice president for Business Innovation.

These projects include the 44- hectare high- end Sands Seaside Residences, which is considered the first residential beach property in the area.

Sands Seaside will offer more than 800 homes priced at P7 million to P10 million each. The company expects to generate around P6 billion in aggregate sales from the project.

“We are focusing on horizontal developments because there is still huge unmet needs for house and lots,” AboitizLand vice president for Marketing John Amon said.

AboitizLand is also developing two gated developments in Northern Luzon – the 13-hectare Ajoya Capas in Tarlac and the 17-hectare Ajoya Cabanatuan in Nueva Ecija, providing over 2,000 homes in both communities.

“We’re launching and selling this year and start of construction will be first or second quarter next year and turnover will probably be after a year and a half or two years,” Amon said.

AboitizLand is bringing the outlet shopping experience to Luzon with launch of The Outlets in Lipa, Batangas, a 10-hectare retail development which will feature popular international and local brands in an outdoor setting with all-year round sales and discounts.