AboitizLand’s reservation sales for the months following the community quarantine have averaged above 80% of original targets despite lockdown restrictions and is well on its way to exceed its 2019 performance. Sustained demand “We are seeing sustained demand for our residential developments despite the limitations brought about by the pandemic,” David Rafael, AboitizLand CEO, told Manila Standard. “We are attributing this to a shift in our customers’ preferences towards houses and lots in next-wave cities, as bigger living areas, open spaces, and amenities,” he explained. The community quarantine has created shifts in residential real estate preferences: homes in suburban locations have become more attractive to property seekers, according to industry watchers. Property listing Lamudi reports that 83% of respondents on its site have been considering properties away from traditional commercial and business districts.
After two decades of developing Cebu’s premier developments, AboitizLand began its national expansion in South Luzon in 2017 with Seafront Residences, a 43-hectare premier seaside community in San Juan, Batangas. After launching several communities in Central Luzon under its mid-market flagship brand, Ajoya, it continued its growth in the South with a fully-integrated community, The Villages at Lipa in Batangas.