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To sustain its robust growth in the middle-income residential sector, real estate developer Avida, a wholly-owned subsidiary of Ayala Land, Inc., intends to invest P5 billion in house and lot and condominium projects.
At the grand launch of its latest project last June 15, executives of the affordable housing arm of Ayala Land disclosed that it was seeking to construct close to 1,000 residential units this year alone in various metropolitan locations with access to public transportation and retail centers.
Avida launched 18 towers over the last five years in four key cities in Metro Manila and will expand in the VisMin area with Cebu as its strategic maiden entry in the region.
Avida Towers Cebu will be the first Ayala condominium community in Asiatown IT Park, the premier BPO and IT hub in Southern Philippines.
Hosting 13,000 full-time jobs mostly from leading BPO companies in the country, Asiatown IT Park in Lahug, Cebu City is the top IT space provider in the region. It is the ideal address for many Cebuanos and thousands others who have come to call the resort-island their home.
Leo Montenegro, Avida president and CEO, remarked that the 518-unit Avida Towers Cebu is for now the crown jewel of the company?s residential condominium line because it is set in Cebu?s most sought-after address.
Avida Towers Cebu is also designed with amenities for a community to enjoy, namely adult and children?s swimming pool, clubhouse with function room, children?s play area, outdoor gym, garden area and jogging path.
Tony Aquino, Ayala Land president and CEO, pointed out that ?Avida condominium projects address the needs of the affordable housing segment composed of hardworking middle-class managers, professionals and employees.?
Ayala Land is indisputably the largest and most experienced real estate developer in the country.
Avida bears the quality and integrity of the Ayala name at a value that is within reach of many Filipinos.
Avida Towers Cebu units cost as low as P1.6 million. Buyers have the option of selecting from studio, one- and two-bedroom units and can avail of a unit for a monthly amortization as low as P14,500.
Francis Monera, president of Asian I Office, is optimistic of the Cebuanos? warm welcome for Avida. Cebu is an investor-friendly environment with its prevailing low interests, attractive terms offered by banks and the bullish growth of Cebu?s economy. On top of that, many are drawn to the Queen City of the South. It is the education hub in VisMin with an international airport and seaport. It boasts of an excellent quality of life, positive political climate and peace and order situation which make businesses and private-public sector partnerships thrive.
Avida Towers Cebu is a joint venture project of Avida Land Corp. with Asian I Office, which is a subsidiary of Cebu Property Ventures and Development Corp., the entity that owns and manages Asiatown IT Park.
The project will enjoy Ayala?s superior brand of property management with Ayala Property Management Corp. This will ensure that the project is well-maintained for value appreciation.
In 20 years, Avida Land has transformed close to 682 hectares of land into dream communities for Filipino families. Avida has successfully launched 32 projects in Luzon. Its presence in 21 locations resulted to more than 26,000 completed housing and condominium units.
Avida has launched close to 20 towers with more than 6,000 units. Of these, 75 percent is sold and 2,500 units are completed.
To know more about Avida Towers Cebu, you may call (032) 2315355 and (02) 8485200 or visit www.cebuholdings.com/avidatowerscebu and www.avidaland.com.