Ayala Land expands outside Metro Manila

Ayala Land Inc. is expanding outside Metro Manila, launching the Avida Towers Cebu - its first residential condominium project in the Visayas. Avida Land Inc., Ayala Land’s wholly owned subsidiary for affordable housing, has the twin-tower development in a 6,262-square-meter property inside Cebu City’s Asiatown IT Park. Ayala Land said in a disclosure to the Philippine Stock Exchange Tuesday that the Avida Land would be offering one- and two-bedroom units in the first tower, starting at P1.6 million per unit. "Ayala Land's expansion in the Vis-Min area is part of the company's strategy to significantly increase its presence in various growth centers and reach out to a greater number of Filipinos across the country," the company said. "Future Ayala Land developments in the region will include malls, hotels, BPO office buildings and other residential developments," the company said. —VS, GMANews.TV