Ayala Land to start high-end condo project before yearend

CEBU, Philippines – The luxury residential brand of Ayala Land Inc. (ALI), Ayala Land Premier, will officially start its P1 billion residential condominium project in Cebu called "1016 Residences" before the year ends.

ALI officials led by ALI senior vice president and head for Visayas and Mindanao Emilio Tumbocon were in Cebu recently to announce the entry of Ayala Land Premier to Cebu introducing the luxury country club living here.

To be situated adjacent to the Cebu City Sports Club at the Cebu Business Park (CBP), the 27-story building will offer a total of 109 posh condominium units which will be carefully designed to give a Cebuano-flavor in the entire ambiance.

Inspired by the presence of world-class people and global icons in Cebu, the "1016 Residences" tower will expand condominium choices in Cebu with an offer targeted to the high-end and wealth market.

The high-end component of ALI's residential brand, Ayala Land Premier offers a minimum condominium cost of P10 million to as high as P40 million.

According to Bobby Dy senior vice president and head for residence and business group of ALI, all 109 units will be available for occupancy by the third quarter of 2014.

The "1016" tower of Ayala Land Premier is so far the third condominium project introduced by ALI this year in Cebu. First it introduced the Avida condo project at the Asia Town IT Park, while the company also recently announced the introduction of Alveo Condominium project in Cebu to start next month.

"True to the overall vision of Ayala Land Premier, 1016 Residences will rise within the heart of Cebu's central business district, taking advantage of its prime location and emphasizing its direct access to a full range of retail, dining, and recreational amenities," Dy said.

The project is aligned with Ayala Land Premier's thrust of geographically expanding to the South, in response to the unmet needs of the market and is thus, primed to become the premier residential living center within Cebu's most preferred address.

Beginning with its seamless integration with the City Sports club of Cebu and access to Ayala Center Cebu, the development highlights attention to the mixed-use equity of the project. Ensuring exclusivity and space the 2,400 square-meter the high-rise will feature two and three-bedroom units that will follow the leisure-inspired building architecture and environment.

The building will cover a total footprint of 900 square-meter, focusing the rest of the areas of the total 2,400 square meters for greener environment.

According to Dy, Cebu is ready to provide luxury-condominium living, as it has become a truly cosmopolitan City already.

In fact, ALI vice president Francis O. Monera said even before the Ayala Land Premier could start its pre-selling activity the company has already received letters of intent to buy from local market, especially the "who's who" in the community.

Ayala Land Premier carries the heritage of ALI from high-rise condominiums to suburban environments and leisure communities.

With Ayala Land Premier, ALI strengthens its distinction as the first, full-time real estate developer to meet the need of discerning homeowners, creating new lifestyles and appointing prime addresses. (FREEMAN)