By Danessa O. Rivera
06/21/2010 [ tribune.net.ph ]
Ayala Land Inc. (ALI), through its unit Avida Land Corp., launched its first condominium community in Cebu City called Avida Towers Cebu which also marks its maiden entry into the Visayas-Mindanao region.
Avida Towers Cebu, a 6,262-square meter property inside Asiatown IT Park in Bebu City, is a joint development with Asian I-Office which is also a partnership between ALI and Cebu Property Ventures and Development Corp. It will feature two towers wherein the first tower will offer 518 units ranging from studio, one- and two-bedroom units, with prices starting at P1.6 million per unit.
The latest project will form part of the nearly 2,000 condominium units Avida plans to launch in 2010 in various metropolitan locations.
This year, Avida will invest approximately P5 billion of which P2.2 billion is expected to be allocated for the development of in-city condominiums.
Expansion in the Visayas-Mindanao area will include malls, hotels, business process outsourcing office buildings and other residential developments in pursuit of Ayala’s strategy to expand its presence in various growth centers and reach out to a great number of Filipinos across the country.