AYALA Land Premier, the luxury brand of the country’s second-largest property developer, said it sold out its first development in Davao, pushing the company to launch the second tower in the next few months.
The company said it generated sales of P2.6 billion from the north tower of The Residences at Azuela Cove, the 25-hectare development joint venture between the Ayala and Alcantara groups.
The first tower is a 21-story seaside property and features only 70 units priced at around P33.1 million with two iconic penthouse units priced at P80.8 million each.
“The Residences at Azuela Cove is a pioneer project for Ayala Land Premier in many ways. It is the brand’s first property in rapidly developing Davao City. It is also the first residential project to be launched within Azuela Cove, Ayala Land’s newest master planned, mixed-use, sustainable and seaside estate in the region,” said Paolo Viray, ALP’s head of sales.
Viray said the company will launch the South Tower of the development within the next few months.
The development is set for completion in 2023.
Azuela Cove in Lanang, Davao, is being developed by Aviana Development Corp., a joint venture between Ayala Land Inc. and Alcantara Group, which has a diversified portfolio including power generation, agribusiness, forestry, transportation, real-estate development and construction-related industries.
Azuela Cove features sprawling Central Park, specialty restaurants and cafés which are set to open their doors this July.
The estate will also be the location for the newest St. Luke’s Medical Center, the first outside of Metro Manila. The tertiary hospital will cater to around 250 beds and is set to open in 2022.
Current developments in the estate include Events at Enderun, an air-conditioned event space operated by Enderun Colleges, a school now owned by Davao businessman Dennis Uy.
The Residences at Azuela Cove is located in the quiet, waterside area of the estate. Each floor of the building has only four units, all of them three- bedroom homes with two distinct layouts. The Seaview Corner Suite is approximately 181 square meters and includes a 13-sq-m balcony facing Davao Gulf.
Units purchased are mostly for primary home or a weekend getaway, considering its location, the company said. About 70 percent of the units were purchased by Davao-based individuals, followed by 15 percent from Manila with businesses or families in Davao. Some 15 percent represent those purchased by buyers from abroad and from neighboring provinces.
“What we are seeing is the confidence of the Davao market in the project’s unique and first-of-its-kind concept. The luxury seaside condominium is a first in Davao, and offers three distinctive features: first, all units will have balconies and commanding sea views; second, residents are offered heightened exclusivity within a low-density environment with each floor composed of only four units; and third, spacious living formats that afford Davao’s well- heeled families the luxury of space and flexibility of choice,” Viray said.