Avida Towers Cebu in Asiatown Park

Avida Land launches second tower at Cebu’s Asiatown park

CEBU CITY -- Avida Land Corp. launched its second residential tower within Asiatown IT Park, just three months after it broke ground for the project and launched the first tower.

The second of two towers that comprise the P1.2-billion Avida Towers Cebu will offer more garden units, said Ryan L. Ybañez, project development associate manager. Tower 1 was launched in July and in less than four months, over 90% of the 518 units have been taken.

While the two towers are under construction, Avida Land is aggressively scouting for properties that could be developed, and planning the establishment of an office to serve the growing Visayas market.

“We’re looking at setting up a branch in Cebu to cater to the fast growth in the Visayas. Our land acquisition group is also scouting for properties right now for other projects,” Mr. Ybañez said.

New projects could either be another condominium development or a “horizontal” development with house-and-lot packages. By the fourth quarter of this year, Avida will also launch house-and-lot developments in Bacolod City in Negros Occidental and Pavia town in Iloilo, both in Western Visayas region.

At Asiatown IT Park, the 25-storey Avida Towers Cebu will be completed in 2013, Mr. Ybañez said. The first tower is slated for completion in the third quarter of 2013 while the second will follow in the fourth quarter of the same year.

Both towers offer studio, one-bedroom units, and two-bedroom units that will be telephone, cable and Internet-ready. Each unit will also be equipped with a fire protection system. Amenities for both towers include adult and children’s swimming pools, a clubhouse with a function room, a children’s play area, an outdoor gym, a garden area and a jogging path.

Avida Towers Cebu is the first project of Avida Land, a wholly owned subsidiary of Ayala Land, Inc., outside Luzon. It is a joint venture project with Asian I-Office Properties, Inc., a subsidiary of Ayala-led Cebu Property Ventures and Development Corp.

The project is located within Asiatown IT Park, a 29-hectare cyberpark developed by Cebu Property Ventures which hosts about 70% of the business process outsourcing companies operating in Cebu and employs about 13,000 workers.

For details on Avida Towers Cebu, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.

Source: Businessworld, 06 October 2010

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