Avida Land eyes P4 billion in revenues from Cloverleaf project

Ayala-led property developer Avida Land Corp. on Tuesday said it is on track to generate some P4 billion from sales of the second tower of its residential project in Balintawak.

In a press conference in Makati City, Avida Land vice president and Corporate Planning Group head Raquel Cruz said the company expects to gain almost twice the P2.2 billion it generated from the first tower of its Cloverleaf project.

With units priced from P4.1 million to P9.9 million, Cruz said the company is banking on government infrastructure initiatives to attract more buyers.

Cloverleaf is located alongside the Light Rail Transit Line 1, and will be closely located to the Metro Manila Skyway project currently under construction.

"Experience...the convenient accessibility to public transport and connectivity to other parts of the metro from the north," Cruz said.

The second tower is expected to be 36 storeys high, including 33 residential floors with a total of 848 units in studio (23 square meters), junior one-bedroom (24 square meters), one-bedroom (33 to 37 square meters), and two-bedroom (52 square meters).

Aside from the Cloverleaf project, Avida Land said it is set to invest an initial P7.4 billion in a new three-tower development in Mandaluyong City. — BM, GMA News