ALI unit set to deliver 500 residential units in Iloilo’s Altria Park by 2019
Avida, the mid-market brand of Ayala Land Inc. (ALI), is set to deliver 500 residential units within the property giant’s 21-hectare mixed use estate in Iloilo and is on track to do so as the company saw a fast take-up on its project within the complex.
Set to deliver a total of 500 high-rise residential units, Avida Towers Atria is a two-tower high-rise development located in Atria Park District, which is ALI’s first integrated, masterplanned, mixed-use community and largest investment in Iloilo.
“With the brisk take-up of units in the first tower of Avida, the company is set to launch the second tower on June 13, 2015,” ALI said in a statement.
To be completed and turned over in the first quarter of 2019, the tower 2 of the Avida Towers Atria will provide the group a fresh inventory of 321 residential and 57 parking units.
Tower 2 will offer 23 units per floor, comprised of studio, one bedroom and two bedroom units with sizes ranging from 23 sqm to 61 sqm.
Other establishments within the district are Iloilo-Ayala Land TechnoHub; ALI’s own hotel brand SEDA that will have 152-rooms; QualiMed Hospital; and The Shops at Atria, a retail development that just opened two weeks ago.
The estate will also have dedicated, open and landscaped spaces.
ALI and the Pison family of Iloilo have partnered in the development of Atria Park District.
During the first quarter of the year, ALI saw its net income rising by 19 percent to billion as it sustained higher revenues in property development, shopping centers and hotels and resorts businesses.
Its consolidated revenues, on the other hand, reached billion, which was driven by the group’s property development and commercial leasing operations within its integrated, mixeduse estates nationwide.
“Our first quarter results provide a good takeoff point towards the achievement of our targets for the year. We continue to introduce new estates and products in various geographies that will allow for sustained growth in 2015,” Bernard Vincent Dy, ALI president and chief executive officer, earlier said. (MBM)