AVIDA Land Corp., the lower-middle-income unit of Ayala Land Inc., said it will infuse P2 billion for a new condo venture called Serin Tagaytay, which, it said, the company will develop for the next five years.
“With the 3-hectare Serin, Avida now offers a complete residential product line in Cavite. Whether a customer considers a house and lot purchase, lot only or a condo unit, Avida will have it all in Cavite,” said Apollo Tanco, the company’s vice president and head of project and strategic management group.
He said the company expects sales of P4 billion for the project.
It will be launched this month, offering 235 units for its first tower. Unit sizes are at 23 square meters to 80 sq m, with the largest units offering garden ridge views of Tagaytay. Price starts at P2.6 million.
Located along the Tagaytay-Nasugbu Highway, Avida’s Serin lies between Ayala Malls Serin and Our Lady of Lourdes Church.
The mid-rise development will have a clubhouse, adult and children’s swimming pools, trellised walkways, lounge and sitting areas, gardens plus a viewing deck.
The west phase of the project will be completed by 2016, Tanco said.
The first East tower will be turned over to unit owners by 2018.
Avida’s investments in Cavite have topped P4.7 billion for the last five years with the launch of its first residential condominium in the province.
The company has sustained its foothold in residential-village development in the area with 116 hectares established across Dasmariñas, Bacoor and Imus.
For its latest village Southgrove Estates in Imus, house and lots are 149 sq m to 431 sq m in size with a package price starting at P5.2 million.
The project is already 57-percent sold.
Avida’s strong presence in Cavite traces back to 2002, with Avida Residences Santa Catalina, a 38-hectare development offering house and lots and lots only.
Avida Village Santa Cecilia, Avida Residences Dasmariñas, Avida Settings Cavite in Bacoor and Southgrove Estates continue to post significant sales.
Avida has a total of some 4,203 residential units in Cavite.
As a whole, Avida’s residential villages across the province are 86-percent sold. “Since its initial lot only offering in 2009, lot value has appreciated here from P8,500 per sq m to P15,500 per sq m, marking a 12-percent annual growth rate,” said Herbert Herrero, the company’s project and strategic management manager for south Luzon.
“The province remains a top residential choice for many Avida buyers.”