Ayala-Alcantara’s PhP 25-B Azuela Cove to rise in Davao City

DAVAO CITY (MindaNews / 26 August) — The Aviana Development Corporation, a joint venture partnership between real estate giant Ayala Land and homegrown The Alcantara Group of Companies, will invest P20 billion for the development of Azuela Cove,  a 25-hectare waterside development in Davao City, that would generate 13,000 jobs during its construction period.

In a media briefing Friday, Ayala Land assistant vice president Enrique Manuel Jr. said the construction of the Azuela Cove will help further “boost the growth of the local economy, serve as a steward of Davao’s environment, and ultimately enrich the lives of more Dabawenyos.”

“Azuela Cove will be a new master-planned estate, unlike any that we have designed before. It will offer the residents and visitors of Davao, a unique waterside experience, in a naturally beautiful setting enhanced by world-class design,” he said.

Azuela Cove is where the Alcantara family’s plywood manufacturing plant once stood.

Manuel said they made the decision to expand to the city, following its real estate boom and its growing demand for commercial and residential spaces in Davao which is “poised to become one of the most vibrant city centers not only in the Philippines, but also in Southeast Asia.”

The mixed-use project facing Davao Gulf and Island Garden City of Samal will be completed within eight to 10 years, Manuel said.

President Rodrigo Roa Duterte leads the unveling of Azuela Cove’s master plan during its launching in Lanang, Davao City on August 25, 2017. Assisting the President are Ayala Land Inc. Chairman Fernando Zobel de Ayala and Alsons Corporation Director Editha Alcantara. Also in the photo is Executive Secretary Salvador Medialdea. RENE LUMAWAG/PRESIDENTIAL PHOTO

President Rodrigo Duterte, who graced the launching of the Azuela Cove late Friday afternoon, said He said the joint venture of Ayala Land and the Alcantara Group of Comapnies Azuela Cove will not only bring more jobs for the people of Davao City and its neighboring areas but “will further define the city as a thriving hub in Mindanao.”

“I assure our private partners that the government has taken measures to ensure that you can do business with ease. We intend to establish an environment that is more conducive for new investments to prosper and for existing businesses to expand and grow,” he said.

Manuel said the entire property comprises residential towers, retail centers, corporate towers and support infrastructure that would “create harmonious environment to support Davao’s economic growth and promote a better quality life for more people.”

The Ayala Land Premier (ALP) Condominiums and the country’s premier hospital St. Luke’s Medical Center will rise within the property and will be complemented with commercial spaces and event areas such as  retail shops and convention facility with a 1,500 seating capacity, Manuel added.

Ayala Land made its entry in the city about nine years ago with its first premier mall, Abreeza Ayala Mall, followed by Seda Hotel, Alveo and Avida residential towers, and corporate center.

The partnership between the two developers came about when the Alcantara family offered to partner with Ayala to develop the waterside property.

“The prospect of growing another thriving commercial and lifestyle district in the middle of the city, less than five kilometers away from the airport, and facing the Davao Gulf, inspired us with its vast and exciting possibilities,” he said.

The the Makati Central Business District, Bonifacio Global City, Nuvali Evoliving in Laguna and Abreeza Estate in Davao, among the Ayala Land projects in 55 growth centers and 22 estates in the Philippines.

According to the Philippine Stock Exchange (PSE), the Ayala is “is engaged in the planning and development of large scale, integrated estates having a mix of use for the sale of residential lots and buildings, office buildings and commercial and industrial lots, leasing of commercial and office spaces and the development, operation and management of hotels and resorts.”

It said that the firm “develops commercial and industrial parks and is also engaged in property management, construction and other businesses like retail and healthcare. “

Among the Company’s subsidiaries are Alveo Land Corporation; Avida Land Corporation; Ayala Property Management Corporation; Makati Development Corporation; ALI-ETON Property Development Corporation; North Triangle Depot Commercial Corporation; Laguna Technopark, Inc.; and Ten Knots Philippines, Inc.

Meanwhile, Alcantara’s real estate projects include the high-end Las Terrazas, Woodridge Park, Ladislawa Garden Village but the family also runs businesses in power generation, agribusiness, and forestry sectors.

The Alcantara-led Alsons Power Group, runs Alsons Energy Development Corporation, Alto Power Management Corporation, Mapalad Power Corporation, San Ramon Power,  Inc., Sarangani Energy Corporation, Southern Philippines Power Corporation, and Western Mindanao Power Corporation. (Antonio L. Colina IV / MindaNews)