Array
Real Estate

Ayala Land's Luxury Condos in Davao Sold in Less Than 24 Hours

The president's hometown is not just the nation's new political capital but also a hot luxury property market

Shares
Photography: Azuela Facebook Page

Ayala Land Premier (ALP), Ayala Land Inc.’s luxury residential developer subsidiary, sold out all 70 units in the first tower of its flagship residential project in Lanang, Davao called The Azuela Cove.


In a report published Thursday, June 21, The Philipine Daily Inquirer said all the 70 units were sold on launch day, with total value of Php2.6 billion. The Azuela Cove is considered to be Davao’s most expensive development project to date, with an average price of Php194,000 per square meter sold.

In photo: Artist's rendition of the planned Ayala Land Premier development called The Azuela Cove in Davao City


The first tower is a 21-storey building, with a maximum of four homes in each floor. The price ranges from Php31 million to Php81 million, with unit sizes spanning from 181 square meters to 377 square meters.

Thirty-four of the units are called “seaview corner suite,” which each has an area size of 168 square meters. Another 34 units are called “seaview horizon suite” with area size of 171 square meters each. The remaining two units are called “seascape villas,” which both span 339 square meters. All unit types have views of the Davao Gulf and Samal Island.

According to Inquirer, The Azuela Cove’s second tower will be launched later this year. It will offer another 77 units at eight to 10 percent higher price than the first, and is expected to bring about Php3 billion in total sales.

The two towers are valued at Php5.6 billion combined.

Ayala Land is not the first nor the only luxury property developer in Davao City. As early as 2015, the Torre Lorenzo Development Corp. already announced it was investing Php4 billion to build three luxury projects there.

 

*****

 

Pauline Macaraeg is Entrepreneur PH's data journalist. Follow her on Twitter @paulinemacaraeg

 

This story originally appeared on Entrepreneur.com.ph.

ADVERTISEMENT - CONTINUE READING BELOW

* Minor edits have been made by the Realliving.com.ph editors.

Inset Photo: Azuela Cove Davao

More on Realliving.com.ph

Shares

Latest Stories

Low-Maintenance Houseplants That Are Perfect For Black Thumbs

We also tell you which plant is bagay in each room of your house

8 Ways to Achieve A Hotel-Like Powder Room

Transform a tiny room into a sophisticated yet relaxing private space with these ideas from an interior designer

Don’t Use Vinegar to Clean These 5 Items in Your Home

Yes, even this versatile substance can't be used on certain parts of the home

A Guide To The Different Types of Towels for Your Bathroom

Did you know that there are towel types and materials for every use?

How to Clean Each Room in Your Home If You Have Allergies

Here's how you can keep every part of your space dust-free

This Is Exactly Where IKEA Philippines Will Be Opening

See where the world's largest IKEA is rising, and check out what they have in store for us!

Eastwood City's Christmas Display Is Too Cute to Handle

Look at that huge dolphin!

Beat Holiday Stress With These Homekeeping Reminders

Don't get lost in your to-do list. Here are ways to enjoy the season while keeping your home in tip-top shape.

A Guide on Removing Pet Hair from Furniture and Floors

With the help of simple tools and a little elbow grease, cleaning up pet hair will be a piece of cake

Pedestal Sink vs. Cabinet Sink: Which is Better?

We'll tell you which is the best sink for your bathroom

How to Organize All Your Kitchen Appliances, Once and For All

Here's how you can finally organize the kitchen items you need, and get rid of those you don't

8 Things You Should Spend Your Christmas Bonus On

Achieve a more organized and positive 2019 by investing in these essentials
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!