ALI mulls more luxury realty projects for Cebu

CEBU, Philippines - The luxury property development arm of Ayala Land Inc., (ALI) — AyalaLand Premier is looking at building more projects in Cebu to take advantage of the high demand for luxury living facilities in the metropolis.

AyalaLand Premier managing director Mike Jugo said that the good sales performance of its three projects built within the Cebu Business Park (CBP) prompted the company to look for opportunities of building more.

Since its first entry to Cebu in 2010 with the 1016 Residences, followed by the building of Park Point Residences, and the ongoing construction of The Alcoves, the company in joint venture with Cebu-based companies like Cebu Holdings Inc., had already invested nearly P12 billion in seven years,

This investment gives a total of 844 luxury residential inventories to Cebu, most of these units are already sold out.

Jugo and AyalaLand Premier officials were in Cebu Wednesday to announce the company's serious stance in taking advantage of the fast growing market for luxury condominium residences.

"Cebu is an economic and cultural powerhouse and there has been continuous demand for Ayala Land properties. The projects of Ayala Land Premier provide the best locations, unmatched quality and distinct living experiences that is integrated within the master-planned estate," said Jugo.

With three high-rise residential projects located within the main business district in Cebu in CBP, Jugo said that while there are also possible opportunities of developing outside the park, its focus in the short term is to continue invest in CBP, as it is the perfect location for highly integrated, "live, work, and play" lifestyle.

The two first projects, 1016 Residences, and Park Point Residences already turned over the units to owners, Jugo said buyers are a good mixed of sophisticated and wealthy Filipinos and foreigners.

Its newest offering called The Alcoves, is so far the biggest with 480 residential units priced from P12 million to P60 million.

"As one of the top places to live, work, play and retire in the Philippines, there's no limit to Cebu's potential. It’s a city where one can easily go diving, play golf or lounge on the beach in the morning, enjoy the high-end shopping in the afternoon, hen gourmet dining or bar hopping at night," said Jugo, adding that this much-envied lifestyle is being complemented with the company's aggressive entry here.

Moreover, Jugo said the completion of the Mactan International Airport Terminal 2, is also seen to boost the charm of Cebu as the center of attraction for businesses, tourists, retirees around world. This anticipated development should be well prepared for. (FREEMAN)