MANILA, Philippines – A unit of property giant Ayala Land Inc. is fast making a name for itself in the Queen City of the South despite its relatively young presence in Cebu.
With its diverse portfolio of residential and office developments, Alveo Land Corp. has fortified its position as one of the leading real estate developers in Cebu and is continuously pushing for more innovation in the city.
“Whether for residential or corporate uses, Alveo properties are in demand in Cebu,” Alveo Land project development manager VC Bacungan said.
Alveo started making its way to Cebu’s bustling property market in 2010 with the Sedona Parc residential project.
Sedona Parc, which is nearly sold out since its completion last year, provides an upscale boutique condo that features a limited offering of 114 well-planned units.
“Our first project, Sedona Parc, is virtually sold out. It was completed in 2014, and 95 percent of the sold units have been turned over to and accepted by unit owners. It currently has a community of 47 residents,” Bacungan said.
Less than a year since the launch of Sedona Parc, Alveo unveiled Solinea, a multi-tower residential development across Ayala Center Cebu.
Solinea is Alveo’s first multi-tower development in Cebu, offering the ideal experience of a vacation-like residential lifestyle at the heart of a thriving urban enclave.
From its highly strategic location to the careful selection of resort-inspired amenities, the attention to detail that went into the project’s masterplan is evident in every facet of the development.
Solinea recently bagged the award for Best Condominium Development in Cebu from the Philippines Property Awards with its unique proposition of city resort living in Cebu Business Park.
Solinea consists of three towers – Cyan, Turquoise and Lazuli.
The first and second Solinea towers are in the middle of construction, with the first expected to be completed by the fourth quarter of 2016 while the second is slated to be finished by the third quarter of 2017.
In terms of sales, Bacungan said the first tower is already 88 percent sold while the second tower is now 82 percent sold.
Solinea’s third tower, Lazuli, will be especially attractive as it is the only single-tower development in Solinea situated on the quiet side of the development.
Given the project’s unique proposition, future residents will get to enjoy the Ultramarine, a 6,000-square meter resort lifestyle zone that brings Solinea’s city resort living concept to life.
Aside from its residential offerings, Alveo also offers Cebu a taste of its office portfolio with BPI Cebu Corporate Center.
“BPI Cebu Corporate Center brings to Cebu premier workscapes in the same tradition as Ayala Land’s Tower One and Exchange Plaza in the Makati CBD and Alveo Land’s High Street South Corporate Plaza Towers 1 and 2 in Bonifacio Global City. With the success of our first office for sale product in Metro Manila, namely The Stiles Enterprise Plaza in Circuit Makati, we decided to bring this investment opportunity to Cebu as well,” Bacungan said.
BPI Cebu Corporate Center has only been 22 percent constructed to date but is already 51 percent sold.
The development promises a rare opportunity for firms, companies and individual investors in Cebu and neighboring provinces to have first ownership of office condominium units.
“BPI Cebu Corporate Center has the unique opportunity of offering prime office units for sale rather than for lease,” Bacungan said.
The building will rise on a prime 2,689-square meter property designed with an iconic glass façade, distinctive lobby area, and premier facilities.
The 18-story office with roof deck features 168 units serviced by five passenger elevators and one service elevator. The building features 100 percent back-up power, CCTV, fire detection and smoke alarm systems and telecoms and broadband provisions.
Retail establishments are on the ground level while six levels of parking offer 232 parking slots.
The high-quality office building is targeting mid- to high-scale business operations as well as a regional headquarters.