CEBU, Philippines - The Ayala Group, through its subsidiary Cebu Holdings Inc. (CHI) is spending at least P200 million for the introduction of its newest phase of the luxury seaside residential project Amara in Liloan, northern part of Cebu.
The expansion of Amara project is part of the Group’s P12 billion investments in Cebu for this year alone, said CHI president Francis O. Monera.
The Amara phase 4—called “The Parks at Amara” will have 53 lots for its first tranche which are classified into prime, parklane, park estate, and the coveted park premier lots. This project is set to be launched by September this year.
Monera said the Group continues to hold on to its strong confidence of the Cebu economy, the reason why Ayala Land Inc. (ALI) has brought in its residential brands in Cebu.
Designed as a truly distinctive community, Amara North complements the first-class resort amenities of the first three phases including the grand clubhouse which features infinity pools, a Jacuzzi, social hall, function room, a beach bar and view decks that offers the spectacular view of Mactan channel.
Of the 44-hectare, only 10-hectare is left for more expansion, said Monera.
Strict standards of the Ayala Land Premier brand govern every detail of the master-plan to give Amara residents an uncompromising experience of life in this premier community.
The Ayala Land Premier brand is set exclusively for the most well-appointed addresses—the likes of renowned communities such as Ayala Alabang, Forbes Park, and Dasmariñas Village in Luzon. Amara is a joint development project of Ayala Land affiliate, Cebu Holdings, Inc. (CHI) with Coastal Highpoint Ventures Development Inc.
This scenic community sits on a 46-hectare property located at Barangay Catarman, Liloan, Cebu, approximately 18 kilometers from the city.
Located near the 100-year old lighthouse at Bagacay Point, Amara boast for its perfect balance between the elements of nature and a master-planned design. Amara will provide the ideal resort-inspired residential enclave for families who can enjoy the rustic, seaside ambiance just minutes from the city.
The property is envisioned to be a community of seaside neighborhoods within a master-planned residential haven. It will offer superior values in product features, amenities and value appreciation with the Ayala trademark.
In 2010, CHI recorded an all-time high of P406 million in consolidated net income. This was 34 percent higher than that of the previous year.
Consolidated revenues, on the other hand, registered a 12 percent improvement at P1.4 billion.
Last year’s revenue was a mix of recurring income from leasing business and developmental projects.
Fifty-eight percent was derived from retail and office leasing, 32 percent from the sale of residential and commercial lots, and 10 percent from interest and other income. (FREEMAN)