Amaia Land Corp., a unit of the Ayala Group that caters to the Broad C or economic housing segment, now accounts for a dominant 30 percent share in this biggest housing market category where 25 players are competing.
Company President Ricky Celis said at the launch of the two completed buildings at the Amaia Steps Alabang that it has 34 active Amaia developments around the country. Amaia Steps Alabang is the 10th among these projects.
“I can say we have the dominant position,” Celis said adding that dominant means 25 to 30 percent of this market segment where 25 housing developers have presence.
Celis said the Broad C or the economy housing segment accounts for a third of total number of families. This market segment has a monthly household income of P20,000 to P60,000 comprising of the working population with regular jobs, OFWs, entrepreneurs, and those currently renting a space but with enough savings to make their first major investment. Housing projects catering to this segment have price tags of P800,000 to P1.7 million.
As of 2012, the unmet housing requirement in the country was placed at 3.9 million units and demand could balloon to 5.5 million by next year. Of this market, two-thirds belong to the Broad C category, which the Amaia is present.
Since competition in the Broad C market segment is tight and price sensitive, Celis likened this category to the “shrinking pandesal,” which means players have to reengineer the lot sizes or adopt more efficient methods of construction to save on cost without sacrificing quality.
Celis, however, said that the Amaia brand is not yet a big contributor to the entire housing revenues of the conglomerate, which four other brands cater to each particular market segment. Ayala Premier caters to the high-end category followed by Alveo and Avida brands for the upper middle category. The Villa Vita brand is its compliance to the government regulation for mass housing developers to cater to the socialized housing market.
The Amaia brand caters to the medium class or the economy segment offering three brands – Amaia Skies for high rise, Amaia Steps for mid-rise, and Scapes for house and lot.
The Amaia Steps Alabang is a 2.6 hectare development consisting of 9 buildings with a project cost of P3 billion. The entire development is expected to be completed in 6 years depending on the volume of buyers. Amaia Steps Alabang is a 9-story residential building located along Zapote Road, which is just one kilometer away from the shopping malls of SM Southmall of Las Piñas and Alabang Town Center.
Already, 90 percent of the first building has been sold out on its opening day. It is being sold for P1.6 million for the bare studio unit of 24-square meter floor area. The one-bedroom 32-square meter De Luxe is being sold for P2.1 to P2.3 million while the 48 square- meter Premier is being sold for P2.9 million.
Celis said that each Amaia development is defined by four characteristics: accessibility, appeal, quality and consistency of workmanship, and living experience. Most of its buyers for Amaia Alabang Steps are end user