While seeing unprecedented growth in sales to local buyers, Ayala Land, Inc. is also experiencing a recovery in overseas sales on the back renewed interest and success in tapping into new markets.

ALI chief marketing and sales officer Rex Mendoza said the firm’s overseas sales has so far grown between 30 to 40 percent in the first six months of the year, driven by the recovery of interest in real estate properties.

Mendoza said overseas marketing now contributes about 18 to 19 percent of reservation sales after recovering form the impact of the global financial crisis on sales in 2008 and early 2009.

Aside from the recovery of the firm’s traditional overseas Filipinos market, Mendoza said ALI's projects are also generating interest among foreigners who are attracted to the lower cost of living in the Philippines.

He said that among these are buyers from Singapore who are buying properties in Ayala Land's projects in Bonifacio Global. “Owning property in the Philippines is much lower compared to Singapore. Also, looking at the exchange rate of the Singaporean dollar to the peso, a Singaporean dollar has more value here,” said Mendoza.

Also among foreigners that Ayala Land projects are attracting are retirees who opt to spend longer periods of time living in the Philippines to take advantage of the cost benefits and leisure options in the country.

ALI is aiming to sell over 9,000 residential units this year and ALI president Antonino Aquino said they have already offered 6,000 units in the first six months of the year – raising the strong possibility of exceeding year-end targets.

“We are heartened by the strength of the market,” said Aquino adding that ALI continues to be optimistic about prospects in the real estate market and expects this trend to continue until next year “barring any major surprises” in both the global and local economies.

Aquino explained this is why the firm is making major investments to put up various projects that are expected to provide revenue and income streams for the next five years.

For Bonifacio Global City alone, ALI is investing P10 billion for various projects to be launched in July and August including the expansion of the highly successful Bonifacio High Street (BHS) commercial and retail strip.

In addition to the existing BHS East, ALI will be developing BHS Central and BHS West which will feature a water plaza, the P1 billion Mind Museum, more high-end retail spaces and restaurants as well as mid-rise office buildings.

Ayala Land Premier has also launched the P6 billion West Tower at One Serendra, the second of a two tower high-end development for which it is investing P4 billion over the next two years.