AYALA Land Premier (ALP), the luxury brand of property colossus Ayala Land Inc. (ALI), is now targeting the rich Japanese market with the launching of The Alcoves, the latest premium residence in Ayala Center Cebu.
The Alcoves is a 37-story luxury condo that offers top-of-the-line amenities and residential concepts to fit its sagacious market. It will be ALP’s third tower in the district. The Alcoves is a follow-up project after the success of its predecessors, namely, the 1016 Residences launched in 2010 and Park Point Residences launched in 2012.
“We’ve been going extensively to the other parts of the region the past two years to promote the brand. A lot of Japanese citizens are interested in our products,” said Mike Hugo, ALP head of sales, in a media briefing over the weekend in Cebu City.
Aside from its much vaunted luxury component, The Alcoves addresses several needs of modern couples, like a walled-in environment. For people who are in their 30s and 40s who don’t have a nanny, the enclosed setup is suitable because they are assured their children are safe.
As far as the demographics are concerned, the prospective buyers of The Alcoves are not solely focused on generations X, Y and baby boomers. “You can’t confine them in one age bracket,” Hugo noted.
“When you talk about the luxury segment, it’s hard to talk about a certain age group. There are lots of entrepreneurs who are in their 20s who are actually billionaires,” he added.
Jose Juan Jugo, group head of ALP, said The Alcoves is perfect for both end-users and investors. “The ability to combine multiple units gives clients more flexibility on the use of their units,” he said.
There are eight residential concepts to choose from, six of which are considered special, limited-edition units. These include the one-bedroom Zen unit, which ALP intends to offer to Cebu’s growing Japanese market.
“What is special about The Alcoves is the unique unit offerings geared toward the Japanese market. These features are not present in existing ALP projects in Cebu,” said Leya moya, project development group head of ALP.
As of June 2015, in fact, Japan continues to be the third largest foreign tourist group in the country with 267,264 visitors, who accounted for P8.98 billion spent during their stay—the fourth largest among foreign visitors,
Furthermore, Japanese tourists are now the fastest-growing arrivals in Cebu. They are attracted to the climate, cosmopolitan culture, leisure and recreation, like golf, diving, snorkeling and other aqua sports. Moreover, Cebu is now evolving into an ideal second-home destination with education, health facilities, direct flights and city to sea conveniences. Some of them even choose to reside permanently in the region. The Philippine Retirement Authority noted that around 7.78 percent of foreign retirees now registered in the country are Japanese.
The units
The one-bedroom Classic starts at P9 million in The Alcoves. The largest residences, which would be the Sky Villas, have a price range of P53 million to P56 million.
The Sky Pavilion, on the 35th level, allows residents to enjoy viewing the city skyline. “Residents can work out at the fitness gym and lap pool, or unwind at the pool bar and lounge; all the while enjoying magnificent views of the city. This is truly a one-of-a-kind feature for a premium residence like The Alcoves,” Moya said.
She said the 112-square-meter (sq m) Alcove Suites, one of its signature residential concepts, have two bedrooms, a powder room, en suite bathrooms and maid’s room. Only six units of these well-designed residences are available.
Another exclusive residence is the Sky Alcove on the 36th level, with grand views of the city and the Sky Pavilion. The 153-sq-m unit has two levels and comes with two bedrooms, a galley-type kitchen, en suite bathrooms, utility area and maid’s room.
The Alcoves also has the one-bedroom Classic at 58 to 69 sq m and the two-bedroom classic at 106 sq m. “Owners may sometimes prefer to have more diverse living spaces, so we’re providing the option of combining adjacent one-bedroom Classic units together,” Moya said.
“This allows them to essentially create a truly flexible living space tailor-fit to their lifestyle. The owner is given this option once the units are turned over,” Moya added.
There are also Grand Corner Suites at 134 to 136 sq m, two-bedroom corner units with large balcony areas. On the 35th level are the only three Sky Suite units in the building. These are residences 131 to 136 sq m in size, with two bedrooms, a walk-in closet for the master’s bedroom, en-suite bathrooms, maid’s room and powder room.
The Sky Villas are on the 36th and 37th floors. The 250 to 259-sqm units have three bedrooms, Asian-style gourmet kitchen, utility area, two dining areas and balcony area.
The Alcove Gardens, on the 7th, 12th, 18th, 23rd, 28th and 33rd levels are 40-sq m three-story high open spaces with green walls and restful seating to enable residents to unwind in a serene environment.
The 153-sq-m Sky Alcove, on the 36th level, comes with two bedrooms, en suite toilet and bath, a galley-type kitchen, utility area and a maid’s room with toilet and bath.
The one-bedroom Classic and two-bedroom Classic layouts have the most number of units in the mix. All two-bedroom Classics are corner units at 106 sq m in size, with great views of the city. The one-bedroom Classic ranges from 58 to 69 sq m in size, and may be combined if the owner prefers, to become a larger home, tailor-fit to suit their lifestyle.
The Grand Corner Suites are spacious two-bedroom units with a powder room, an en suite toilet and bath, a maid’s room with toilet and bath, a utility area, a master bedroom with walk-in closet and a galley-type kitchen layout. They are 134 to 136 sq m in size with a balcony area of up to 8 sq m, offering breathtaking views of the mountains.
The project is set to be completed in March 2020, while the units will begin turnover by the second quarter of 2020.