Ayala launches P1B Cebu Condo Development
AYALA Premiere, the upscale housing brand of Ayala Land (ALI), yesterday launched its new venture in Cebu, a 27 –story exclusive condominium right at the city’s business district.
The P1-billion 1016 Residences, set to break ground later this year for completion late 2014, is the second venture of the high -end residential brand after the success of its light house community, the Amara.
"This is a symbol of our deeper commitment to this great city," Bobby Dy, head of ALI;s residential business group, said "The 1016 Residences will rise within Cebu City central business district, taking advantage of its prime location and emphasizing its direct access to full range of retail, dining and recreational amenities."
With units measuring between 98 and 230 square meters and prices ranging from P10 million to P40 million, the developers are eyeing the high -end market by bringing a unique country club feel right in the middle of Cebu Business Park.
"Cebu has continued to grow and continues to attract investment and people,: Francis Monera, president of ALI's domestic affiliate Cebu Holdings Inc., added.
There will only be 109 units for the whole project, with only four units per floor.
The property will also be connected to the exclusive Cebu City Sports Cubs, with unit buyers given automatic memberships to the club.
By: Wilfredo Rodolfo III
Business Mirror
November 19-20, 2010
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