Ayala Land boosts presence in Cebu

MANILA, Philippines – Property giant Ayala Land Inc. is going full steam ahead with its residential development plans in Cebu with plans to bring most of its brands to the country’s second busiest region next to capital Manila. 

Speaking at a press briefing on Tuesday, May 8, CFO Jaime Ysmael said Ayala Land is looking at bringing 4 of their property brands, aimed at different market segments, to Cebu this 2013.

“Practically all of our brands are there. Amaia is the only one of the 4 brands that is not there. But as we speak they are already looking, and this year they will be launching their first project in Cebu,” said Ysmael.

According to Ysmael, their brand Avida has built 4 towers in Cebu’s IT park, while Ayala Premier has built two towers and Alveo 3 towers.

Ayala Land’s residential business arm is composed of 5 brands: Ayala Land Premier (upscale market), Alveo Land (middle-income), Avida Land (young professionals and middle-income class), Amaia Land (low-cost housing sector) and BellaVita (socialized housing).

“All the brands there are going strong in terms of sales take up,” said Ysmael.

Cebu Holdings Inc., a 49.8% owned unit of Ayala Land, has so far developed two sites in Cebu: the 50-hectare Cebu Business Park and the 27-hectare Cebu I.T. Park.

On the back of a strong performance in 2012 registering a 13% growth in revenues at P1.6 billion, Cebu Holdings, Inc. is set to invest P3.4 billion in new and existing projects in 2013.

Cebu partners

In order to beef up its presence in Cebu, Ayala Corp recently partnered up with the Aboitiz Land Inc. to develop a 3rd business district in Cebu City.

“It will commence shortly with a mixed use development and retail and additional office and residential towers. What we have there is interim retail. It’s time we build something there to address the it business but also the adjoining communities,” said Ysmael.

This partnership comes on the heels of the team-up between Ayala Land’s parent company Ayala Corp. and AboitizLand to bid for the Mactan International Airport expansion.

Ayala Land has also partnered up with Gaisano-led Vicsal Group to develop a 12-hectare property in Mactan Island near Shangri-La Hotel. The development will be “more of a leisure oriented community” according to Ysmael.

Given the market that Cebu attracts, Ysmael said they are interested in building condotels which hold a mixture of residential components and hotels.

Ayala Land is also boosting its retail presence on the island with Ayala Center Cebu. “It will be positioned as a high-end development. Rustan’s will have a bigger area. We will introduce a lot of new concepts to Cebu that are in Manila. This is the first time where we will have an integrated residential tower within the mall development,” said ALI.

The expanded mall is expected to have a soft opening towards the end of the year.

ALI’s developments in Cebu include the following:

Office Condominiums

• Ayala Life
• FGU Center Cebu
• Cebu Holdings Center
• eBloc Tower 1
• eBloc Tower 2
• eBloc Tower 3

Residential Condominiums

• 1016 Residences
• Avida Towers Cebu
• Avida Towers
• Riala Park Point Residences

Residential Subdivisions

• Amara Garden
• Ridge Village

Retail

Ayala Center Cebu

Commercial Lots

• Cebu Business Park
• Cebu I.T. Park

Hotel

• Cebu City Marriott
• Hotel Sports Club
• City Sports Club Cebu 

– Rappler.com