Alveo Land Corp., a unit of Ayala Land Inc., said it will start selling next month its first phase of its P2.3-billion Mondia project in Nuvali, the company’s last project in the sprawling development in Laguna.
The project—a residential subdivision and Alveo’s fifth development in Nuvali—will span 40 hectares, and will generate as much as P3.7 billion in sales, according to Paulo Rizaldo Ong, Alveo division manager for project development.
Ong said the first phase of the project, which will span about 20 hectares, will be launched by next month and the rest will be by the year end.
“The last project in Nuvali generated P2.5 billion in two days. We are looking at the same demand and volume in this project,” Ong said in a media briefing.
He said that given the previous experience unit takeup for previous project, Mondia is expected to be fully sold in a year’s time. Turnover of the units to the owners is in 2017.
Mondia has lot prices ranging from P4.8 million to P11.8 million or P18,500 per square meter.
As Alveo’s fifth horizontal development in Nuvali, the company has now invested a cumulative total of over P7.4 billion in the area.
With communities of Treveia, Venare, Mirala and Lumira, Nuvali now represents 62 percent of Alveo’s total 12 horizontal residential projects in Luzon at 400 hectares.
About 384 residential lots will be available in Mondia’s first phase of development, ranging from 269- to 541-square-meter (sq m) cuts, the average lot size would be 330 sq m.
Residents will enjoy the calm of pocket, parks which will be situated within a 250-meter radius of every lot, Ong said.
There will be a 1.7-hectare central park for community gatherings, jogging and bike trails, swimming pools, basketball court, shaded walkways, multipurpose fields and lawn areas.
“With its choice location in the South, Mondia is set to present an especially attractive investment for families wanting to live and experience Nuvalis unique environment and sustainable lifestyle,” Ong said.
More than half of Nuvali’s total area size developed complete with road networks since its launch eight years ago.
Solenad 3, a structure of seven interconnected buildings with an outdoor activity park, will be among the town’s upcoming developments.
The retail area will house Nuvali’s first line of movie theaters. Other future developments include an S&R Membership Shopping center later this year, and the 100-bed Qualimed Hospital in 2016.
VG Cabuag