Cebu boom boosts demand for high-end condos

CEBU CITY—Ayala Land Premier (ALP) continues to bank on Cebu’s growing demand for distinctive and exclusive high-end residences.

It recently launched its third luxury condominium project in Cebu, The Alcoves, that would rise on top of Ayala Center Cebu inside Cebu Business Park, a premier business district in Cebu City.

“ALP developments are guided by key points that we always emphasized in every property we develop. These are unmatched location, masterfully crafted design, distinctive living experience and value appreciation,” said ALP managing director Mike Jugo during a briefing.

The Alcoves is expected to follow the success of ALP’s two-tower communities—the 1016 Residences which was launched in 2010 and the Park Point Residences launched in 2012.

“With 1016 Residences flourishing as an established community, and Park Point Residences’ ongoing unit turnovers—residents and buyers have expressed extreme satisfaction and delight over the quality and living experience of their new homes and the appreciation of their investment,” said Jugo.

The 1016 Residences, with only 109 carefully crafted units, is connected to the exclusive City Sports Club Cebu, the city’s premier urban lifestyle club.

The project is almost 100 percent sold-out, posting total sales of more than P2.3 billion.

Park Point Residences, on the other hand, is an exclusive community of only 255 residences, connected directly to Ayala Center Cebu.

It also enjoys brisk sales and has reported a take-up rate of 99 percent with total sales of P3.9 billion.

The entry of Alcoves will bring in 844 luxury condominium units from the three luxury projects inside Cebu Business Park in the last five years.