Inquirer 10/1/2009

Property giant Ayala Land Inc. ventures into the low-cost housing sector with the development of a 20-hectare property in San Pedro, Laguna, into an affordable residential community.

ALI senior vice president Jaime Ysmael told reporters that the maiden project will offer about 2,000 residential units worth P600,000 to P1.25 million each.

“It’s not the socialized housing segment that the government is focusing on. This (the ALI project) addresses about 34 percent of households,” Ysmael said.

“Right now, we’re addressing only 7 percent (of households) with all the three brands that we have,” he said.

ALI earlier announced the creation of a new subsidiary that would sell affordable housing units. It will be separate and distinct from its upscale development arm Ayala Land Premier and middle-income brands Alveo Land and Avida Land.

“We’re still developing the brand,” Ysmael said.

The project will offer houses on lots with sizes ranging from 40 to 60 square meters, while floor areas of the houses range from 28 to 40 square meters.

“We’re targeting families with combined household income P15,000 to P50,000 per month,” Ysmael said.

To keep the prices low, the Ayala group chose for its first low-cost housing project a property that is not along the major highways but still has good access to roads and public transportation.

The project is expected to start selling by the first semester of next year.

For other low-cost projects, Ysmael said the group was looking at other areas within the Calabarzon (Cavite-Laguna -Batangas-Quezon) area.