053007: Ayala Land unit aims for 75% growth

By Max V. de Leon

Reporter

COMMUNITY Innovations, the upper mid-end unit of Ayala Land Co., launched Tuesday its new HomeStarter financing scheme that is seen to help improve the company’s revenue growth to 75 percent this year. At the same time, Rex Mendoza, Ayala Land senior vice president for corporate sales, said that Community Innovations is launching a P500-million horizontal residential development project in Angeles City this June. Mendoza said the Homestarter financing scheme was conceptualized by Community Innovations as a way of making available a kind of service its market requires. It has three payment options that allow the buyers to avail themselves of zero downpayment up to a certain period and stretch their monthly amortization to up to 25 years at fixed interest rates. Mendoza said the fixed interest rates, which are also lower than what the banks and other developers offer, is what separates the Homestarter scheme from the rest. “We will stand by the rates that we quoted,” he said. The Homestarter financing scheme will be available initially for Community Innovations’s Verdana Homes Mamplasan and The Columns Legazpi Village projects. Its other projects, like the Serendra in Bonifacio Global City are under joint venture so Mendoza said they are still seeking the approval of their partners. Mendoza said Community Innovations is now the fastest growing developer after it grew 66 percent last year and is expected to grow 75 percent this year. The company is set to start developing a 35-hectare posh residential project in Angeles City, which also has a mall component.

 

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