FOLLOWING the success of its first residential tower, Amaia Land, a subsidiary of Ayala Land Inc. (ALI), is set to launch next month Tower 2 of Amaia Steps Mandaue.
Located along UN Ave. corner Plaridel St. in Mandaue City, Amaia Steps Mandaue Tower 2 offers 288 units valued at P1.13 billion, with various unit sizes that can cater to the needs of homeowners.
The latest addition initially offers units ranging from 24.04 square meters (sq.m) to 41.08 sq.m, which can be converted to one- and two-bedroom units.
The nine-storey Amaia Steps 2 will start construction before the end of the year and will be completed by the first quarter of 2022.
“For aspiring homeowners in Cebu, Amaia Steps Mandaue Tower 2 signifies new beginnings and a chance to settle down in our very spacious, well-designed units at very affordable prices,” said Grace Quinto, project head of Amaia Land.
Amaia Steps Mandaue sits on a 8,009 sq.m property. Tower 1 is already sold out.
Quinto said the company remains bullish about Cebu. She cited the province’s thriving tourism and trade activities as among the reasons they plan to expand their footprint.
The project, she added, also stands to benefit from the different infrastructure projects in the province.
“We want to expand in Cebu. We are looking for potential sites for our new projects,” she said.
Studio units are priced at least P2.9 million; one-bedroom units at P4 million and its premium units or two-bedroom at P5 million. This low-density development has 36 units per floor.
Quinto said Amaia Steps is a valuable investment, being strategically located near malls, the airport and economic zones.
The project is also a branded investment, being an economic housing unit of ALI that is being managed by Ayala Property Management Corp.
Real estate players already pronounced the industry as a big winner for 2019, as it will reap benefits from infrastructure projects being built by public and private sectors.
Marcelino Mendoza, president of the Organization of Socialized and Economic Housing Developers of the Philippines, said the building momentum is expected to continue for middle- to high-end developments in real estate, tourism and logistics.
ALI raised its capital expenditure for 2019 to P130 billion, up by 18.2 percent from P110 billion in 2018, as the company continues to build its growth plans.
Last year, ALI launched P139.4 billion worth of residential and office-for-sale projects.
ALI has about five residential brands, namely Ayala Land Premier, Alveo, Avida, Amaia and Bellavita.