Ayala Land unveils Ascenda, a P10.3-B Davao City estate
Ayala Land, Inc. (ALI) is investing P10.3 billion in its first horizontal estate in Mindanao. It is expanding its footprint in Davao City as demand for properties outside Metro Manila steadily climbs.
The real estate giant on Thursday said it had broken ground for Ascenda, a 204-hectare (ha) master-planned community in Davao City.
“Ascenda is well-positioned to benefit from Davao’s momentum, providing Davaoeños new space to grow and an environment attuned to their modern, upgraded lifestyles,” ALI president Meann Dy said in a statement.
Dy cited major infrastructure projects in Davao as among the main economic drivers in the city, the benefits of which could spill over to Ascenda. These include the Samal-Davao bridge, Coastal Road and Davao Bypass road.
The project is ALI’s 54th estate overall. According to the developer, Ascenda will house Virendo, the only residential village of Ayala Land Premier in Davao City.
Ascenda will also be composed of two main areas. One is the 65-ha Town Center which is the “commercial and cultural anchor.” The other is the 139-ha residential district featuring ALI’s “top premier residential brands.”
“Ascenda’s value as a residential enclave and commercial hub is expected to greatly appreciate in the coming years, much like Ayala Alabang and Nuvali in Luzon have escalated in value,” Dy noted.
Apart from Davao City, Alabang and Nuvali, ALI’s estates are located in Makati City, Bonifacio Global City in Taguig City, Cebu and Pampanga.
In the first semester, the premium segment boosted the company’s net income by 10 percent to P6.9 billion. ALI is on track to grow its earnings twice as fast as the Philippine economy.
Consolidated revenues climbed by 6 percent to P43.6 billion, driven by higher bookings and leasing operations.
ALI plans to launch 21 projects worth P57 billion in the second semester, with roughly two-thirds in the premium market.
While this segment remains the main income driver, ALI said it was seeing recovery in the core middle income segment. This prompts the company to pursue its first residential high-rise project in this market since the COVID-19 pandemic.
ALI is set to launch three projects in its core segment this semester, including a residential condominium project in the Katipunan district of Quezon City.
