Rex Mendoza, Ayala Land Inc. (ALI) senior vice president and head of corporate marketing and sales, said these projects will be developed through their Ayala Land Premier Corp., Avida Land Corp. and Alveo Land Corp.

"Our goal is to have a good interplay of all products within an area to come out with an integrated environment where one can live, dine, work and play all in one district," he said.

Mendoza said their investments are paying off; Ayala Land surpassed their P5-billion mark target in Cebu.

Mendoza said they want to develop Asiatown IT Park and Cebu Business Park similar to Bonifaco Global City, considered a main growth hub in Manila.

"The three projects we have now are doing very well. In fact, we have to launch our second Avida tower because the first got sold out so quickly, which means Cebu has the right market mix for all our products," he said.

Mendoza said Ayala Land Premier's 1016 Residences sold one-third of total units already while Alveo's Sedona Park also sold 46 percent of its units.

He said Ayala Land may set up another hotel under their brand rather than a partnership with international hotels like the Marriot.

At present, Ayala Land has five hotel properties around the country.

Mendoza said they will expand this year in Iloilo City and Bacolod City.

Amid the ongoing crisis in Japan, Mendoza said Ayala developers remain bullish in Cebu.

"There are a lot of overseas workers also asking us for properties in Cebu and we are going to satisfy that," he said.

Mendoza said 15 to 20 percent of their property buyers in Cebu are from the OFW market.

March 22, 2011
Cebu Daily News