ALVEO Land Inc., a unit of property developer Ayala Land Inc., said it is targeting P7.4 billion in sales for its residential subdivision in Kawit, Cavite, the newest mixed-use estate of the country’s second-largest real-estate firm.
The company said Evo City, a sprawling 200 hectares of mixed-use development, is touted to be the next central business district (CBD) in the southern part of Metro Manila, and one of the most-prized prime commercial and residential destinations in the country.
Jennylle S. Tupaz, Alveo Land president, said growth in Metro Manila is slowly spilling over to the southern part, including in Cavite. This prompted Ayala Land to develop its first residential project in Evo City.
“Evo City will offer the ideal living experience in the South. With the seamless synergy of all the Ayala brands involved, Evo City will become a prime CBD that will drive growth and progress in Cavite. This will be an estate that delivers complete work and living experiences in a master planned and sustainable environment,” Tupaz said during a media launch of the project.
Alveo’s project will have a total of 41.4 hectares and involves selling of 395 residential lots for the first phase, more than half of the total lots available for sale.
The project will be launched this weekend.
Average lot size ranges from 294 square meters to 450 sq m, with Alveo selling the lots at about P30,000 per sq m at an average contract price of P9.7 million.
The Residences at Evo City will be turned over in 2020.
Bordered by the Centennial Road, Kalayaan Road and the soon-to-be-developed Cavite-Laguna Expressway (Calax), Evo City is currently accessible through Cavitex. Future government infrastructure projects such as Calax, Cavite C-5 Southlink and the Southwest Integrated Transport System will also give further entry to the estate.
The estate will have Ayala Land development’s key components, such as a community mall, a hotel, office developments by Ayala Land Offices and residential offerings mainly by Alveo.