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Monday, December 12, 2022

Alveo Land Development

Aloha Everyone,

Per their official website, it states, “Alveo Land Development offer a portfolio of real estate developments that provides upscale living & working spaces within various thriving & emerging growth centers around the country….”

Their online site is shallow in providing information. The two of us must’ve been approached by at least 1/2 dozen sales agents working out of temporary kiosks located within shopping complexes. We obviously look like visitors. I try not to make eye contact by wearing my sunglasses and a face mask. Yet at a couple of instances, aggressive salesperson intercepted my path and asked if we are visiting from the USA (he heard our private conversation), and do we like the Philippines? A double positive response and I was listening to their sales pitch. 

The salesperson pressed a couple of professionally produced slick brochures in my hand. They contain no information pertaining to the interior quality of the units, specific view, prices, estimated date of project completion. When asked for my contact info so that he could follow-up with my specific requirements, I declined.

I saw red flags and warning signs when this salesman stated, “We guarantee a 10-25% return of investment per annum…. The Philippine real estate market is booming, and we will not be affected by any global economic crisis. Our country has eradicated COVID, and we expect a healthy economic recovery…”

J.J. told me that most of these projects are targeted to overseas Filipinos who would like to spend their retirement in the Philippines.

If you are not generating any income but saddled with paying monthly maintenance fees including utilities, it could become a costly investment.

Aloha -- Cathi