May 09, 2013 | Comments 0
The Philippines' main news channel abs-cbn spoke to the head of ALP, Jose Juan Jugo, about the company's impressive sales record in the last three years, which he confirmed added up to 20 percent growth year-on year.
Jugo also said that he does not expect a slowdown in sales for 2013, even taking into account an increase in new launches from last year, which saw ALP bring 15 residential projects to the market.
ALP ended 2012 with earnings totalling P2.3 billion (U$56 million) and sales take up totalling P25 billion (US$615 million) over the last three years.
This year's launches have already included the Luscara in Nuvali township project, located in South Luzon, with P2.9 billion (US$71 million) worth of lots already sold. Other projects include Ayala Westgrove Heights, with properties set around an orchard park and Ayala Greenfield Estates, to be built around a 350-hectare development that serves as the habitat of 35 species and 21 families of endemic and migratory birds.
Despite being Asia's fastest-growing economy after China; World Bank data shows that The Philippines draws the lowest level of foreign direct investment in Southeast Asia, relying instead on regular remittances from Overseas Filipino Workers.
However, the country's president, Benigno Aquino, who has received widespread praise for spearheading the country's economic rise, recently announced plans to fast-track infrastructure improvements through joint ventures with international companies estimated to be worth US$17 billion.
Real estate experts and developers are confident such projects will also benefit the property market with ease of access for investors, particularly in and around Metro Manila, the most populous of the twelve defined metropolitan areas in the Philippines.
Filed Under: News • News by Country • Philippines
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