Avida Towers 30% sold out during priority selling event

CEBU, Philippines - Even before its formal launching in Cebu, Ayala Land Inc.’s condominium brand Avida, already enjoyed a strong take up of the condominium units of the Avida Towers with 149 of the total 518 units sold within three days.

A Priority Selling activity was conducted last week which recognizes the patronage of existing Ayala clients by giving them the first priority to reserve their chosen units.

Prospective buyers who have submitted Letters of Intent were accommodated as well.

On the last day of the activity, approximately 200 sellers and buyers attended, some of whom have waited for registration to open as early as 7:30 in the morning.

In three days, 149 or 30 percent of the total units were already taken.

The first condominium project of Avida in the Visayas, Avida Towers Cebu is located in Asiatown IT Park, the premier IT and BPO hub in Southern Philippines. It is the first affordable Ayala condominium community in the region.

In line with Ayala Land’s commitment to enhance land and enrich lives, Avida focuses on enriching the lives of the hardworking middle class by offering their families a home to be proud of—one nestled in a peaceful and safe community, accessible to public transportation, beautifully and practically designed, and one that will prove reliable performance over time. Avida stands for “affordable living at its best.”

Avida Towers Cebu is a joint venture project of Avida Land Corp. and Asian I Office (AIO).

AIO is a subsidiary of Cebu Property Ventures and Development Corporation which owns and manages Asiatown IT Park.

It offers Studio, 1-Bedroom and 2-Bedroom units with a price range of P1.6 to P4.4M. Interested buyers may avail of these units for a monthly amortization that is as low as P14,500.

The units are available for viewing in the Avida Towers Cebu sales pavilion located along Geonzon St. across eDiner in the eOffice building of Asiatown IT Park.

Avida Towers Cebu's first tower is a 25-story building with 22 residential floors and 518 residential units. It is designed with prime views of the nearby mountain ranges, Asiatown I.T. Park, and the sea.

This project which is expected to cost the company at least P1.5 billion investments creates affordability, security and value in every house and lot and condominium development it builds. Avida stands for affordable living at its best.

The Ayala Group in partnership with its affiliate Cebu Holdings Inc. (CHI) earlier announced that it will pour in capital expenditure (capex) of about P2 billion each year, starting 2010.

ALI president Antonino T. Aquino said that this year, ALI will partner with CHI and its subsidiary Cebu Property Ventures and Development Corporation (CPVD) for development of five projects in both Asia Town IT Park and the Cebu Business Park (CBP).

With this partnership the four brands of ALI, the AyalaLand Premier, Alveo, Avida and Amaya will have its presence in Cebu with the establishing of three residential condominiums that will be constructed in AsiaTown IT Park, and CBP.

“Cebu’s economy is vibrant, relative to have CHI is doing, and the retail sector performing well. Also, Cebu is very attractive for BPO investors,” said Aquino.

Avida is the first brand to be introduced in Cebu, with this partnership.