By Richmond S. Mercurio (The
Philippine Star) | Updated August 18, 2015 - 12:00am
CEBU City, Philippines – Ayala Land’s high-end arm is expanding its
presence in Cebu to tap the rapidly growing Japanese market here.
According to Ayala Land Premier said
there is growing interest from foreigners, particularly the Japanese, to make
Cebu their second home destination, for foreigners.
ALP managing director Jose Juan Jugo
said Japanese arrivals in Cebu have been increasing since 2013.
“As of June 2015, Japan continued to
be the third largest foreign tourist group in the country with 267,264
visitors. They are also fourth largest spending market among foreign visitors,”
Jugo said.
“Based on the Department of Trade
statistics, Japanese tourists now have the fastest growing number of arrivals
here in Cebu. So year on year, we have more and more Japanese that are coming
to Cebu,” ALP project development head Leya Moya said.
ALP recently launched The Alcoves, its
third residential project in Cebu Park District, with unit prices ranging from
P9 million to P56 million.
“So we see that they really look at
Cebu as a place where they can live. And because of that we developed this
particular kind of project that’s really attuned to the culture of this particular
market,” Moya said.
The project is scheduled to be
completed in March 2020. Turnover of the units will begin by the second quarter
of 2020.
To cater specifically to Japanese
investors, the Alcoves will offer a one-bedroom Zen unit that will have a large
Japanese-style bathroom.
“What is special about The Alcoves is
the unique unit offerings geared towards the Japanese market. These features are
not present in existing ALP projects in Cebu,” Moya said.
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