Real estate firm Next Asia Land Inc. announced it is developing three residential communities in South Luzon, one in Batangas and two in Laguna, for a combined investment revenue value of P8 billion.
These communities are Estonia in Calamba, Laguna; Cyprus in Calauan, Laguna; and Florence in Lipa, Batangas.
Next Asia Chief Executive Officer (CEO) Cris Carreon explained that the P8 billion is their rough revenue estimate, and the investment is around 70 percent of it which is "about P5.6 billion to P6 billion."
"We are committed to delivering innovative and sustainable real estate development that enrich communities, and expands its presence in key cities across the country," he added.
These are considered "Nxt Green"-certified, meaning the communities already have amenities like high-speed broadband courtesy of Converge ICT Solutions, Inc., solar streetlights, and electric vehicle (EV) charging stations.
The communities were developed in partnership with stakeholders such as SB Capital, RCBC, BPI, Union Bank, PAG-IBIG, China Bank, Leechiu Property Consultants.
Next Asia Chief Operating Officer (COO) Dustin Carreon said the development of the communities is "aligned with the President's agenda to address the nation's housing backlog, which currently stands at 6.5 million units."
The price points are around P1.6 million to P2.5 million per unit, he noted.
For now, the company is not yet looking at developing other assets with Cris Carreon saying that "at the end of the day, it's all about economies of scale."
"It's so easy to jump from one region to another, we've received invites from interest joint venture groups. At this point, it makes sense for us to saturate the availability of land and the market," he added.