Ayala Land Premier posts 26% increase in Q1 sales

Luxury property developer Ayala Land Premier (ALP) on Tuesday reported a 26 percent increase in sales take-up in the first quarter of the year, driven by the recent launch of its ultra-luxury development project.

In a briefing in Makati City, Managing Director Mike Jugo reported P8.1 billion in sales in the first three months of the year.

"A great part of that will be from Park Central Towers," he said, citing the company's P20.5 billion ultra-luxury development in Makati.

Launched in September 2016, the property has since generated P13 billion in revenue with 235 out of the 281 units sold.

"Roughly less than 16 percent is for sale to the high-end market," Jugo said.

In the same briefing, Jugo said Cerilo, the company's new residential project, is set to launch next month.

Cerilo is ALP's eighth subdivision development in Nuvali, with a total land area of 85 hectares.

Set to be launched to preferred buyers on June 9 and to the general public on July 2, a lot in Cerilo is selling for P11.5 million to P43.1 million. — VDS, GMA News