Posted on October 20, 2015
10:07:00 PM [ BusinessWorld Online ]
ALVEO LAND Corp. is looking
at generating up to P11.4 billion in revenues from its master planned
development in Cebu Business Park, citing strong demand from the local market.
AN artist’s rendition of
Alveo Land Corp.’s Solinea project in Cebu.
The three residential
towers at the 2.6-hectare Solinea are expected to be sold out by 2017,
prompting the high-end unit of property giant Ayala Land, Inc. to launch two
more towers, Alveo Project Development Manager Vincent Carl C. Bacungan told a
media briefing yesterday.
The first, second, and
third towers are now 89%, 83% and 53% sold, respectively, bringing latest sales
figure to P5.5 billion.
Located across Ayala Center
Cebu, Solinea will also have a retail strip, a 6,000 square-meter (sq.m.)
resort with a clubhouse, 1,000 sq.m. pool, raintree play park and children’s
play area.
“Solinea is built around
the concept of a city resort lifestyle: a highly strategic residential location
with a careful selection of resort-inspired amenities,” Alveo said in a
separate statement yesterday.
“Composed of the Cebu
Business Park and Cebu IT Park (formerly known as Asiatown IT Park), it has
long since brought Ayala Land’s vision of integrated living in Cebu to life.”
Mr. Bacungan said the third
residential tower, Lazuli, is its “most successful project in Cebu.”
“It is aimed towards urban
achievers, typically in their 30s to 50s, who are looking for a respite within
the city and with their workplace nearby,” he explained, adding that it also
caters to investors looking for investments with recurring income.
Around 60% of Solinea’s
buyers are investors, with the rest being end-users.
Alveo is also offering the
upscale boutique condominium Sedona Parc and the 18-storey BPI Cebu Corporate
Center, both located in Cebu Business Park. -- Daphne J. Magturo
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