ALI investing P20 B for Davao estate dev’t

Ayala Land Inc. is investing P20 billion over 10 years for the development of Azuela Cove, a 25-hectare masterplanned estate in Davao.

Azuela Cove is being developed by Aviana Development Corp., a joint venture of ALI and the Alcantara Group of Companies.

Part of the estate is The Residences, Ayala Land Premier’ s first premium residential project in Davao.

In a press briefing yesterday, officials said the project has already generated P2.6 billion in sales. It features 70 expansive units including two iconic penthouse units priced at P80.8 million each.

The North Tower has 21 storys and provides views of Davao Gulf and Samal Island, which is just 1.6 kilometers away from the property.

Mike Jugo, managing director at Ayala Land Premier, said The Residences provides the convenience of being fullyintegrated into an Ayala Land estate.

Azuela Cove features a sprawling Central Park, increased pedestrian access and a waterside Esplanade that allows for distinctive sea views.

There will be also be a St. Luke’s Medical Center, the first outside of Metro Manila as well as Events at Enderun, an event space operated by Enderun Collges.

Paolo Viray, head of sales and marketing at Ayala Land Premier, said the project is set for competition in 2023. The second tower is targeted to be launched in the coming months.

“What we are seeing is the confidence of the Davao market in the project’s unique and first-of-its kind concept,” he said.

All units will have balconies and sea views, and residents will be within a low-density environment with each floor composed of only four units and the units will be spacious, he said.