ALI targets rising affluent market with P10.3-B Ascenda estate in Davao
AYALA LAND, INC. (ALI) is positioning its 204-hectare Ascenda estate in Davao City to cater to the growing middle to affluent segment in the region.
The developer has allocated P10.3 billion for the mixed-use project, which features a 65-hectare town center and a 139-hectare upscale residential village slated for phased completion by 2031.
“Ascenda caters to Davao’s rising middle to affluent segment — business owners and professionals with disposable wealth and investors seeking first-mover positioning,” Crystal Gale Evaristo, Mindanao estate development manager at Ayala Land Estates, said in an e-mail.
The estate was launched on Sept. 27.
ALI targets completion of the town center land development works by 2029.
The first phase of the residential village Virendo will be finished by the first quarter of 2029, while the second phase is scheduled for completion by the second quarter of 2031, Ms. Evaristo added.
Virendo will be developed under ALI’s flagship luxury brand Ayala Land Premier.
Ascenda is ALI’s largest mixed-use estate in Mindanao.
The 65-hectare town center will feature key amenities such as an eco-park, prime commercial lots, greenways, restaurants, cafés, shops, and a community church.
The 139-hectare residential district will offer upscale housing options.
Ms. Evaristo noted that the P10.3-billion allocation covers development of the town center but excludes future planned unit developments within the estate.
Funding will come from retained earnings and bank loans.
ALI is capitalizing on the Davao region’s economic growth, expanding road network, and rising demand for peaceful, nature-inspired communities through Ascenda.
It is also the company’s fourth development in Mindanao, following Insular Village launched in 1976, Abreeza in 2007, and Azuela Cove in 2017.
ALI President and Chief Executive Officer Anna Ma. Margarita B. Dy said Ascenda’s value is expected to appreciate, noting that the estate’s prime commercial lots will provide opportunities for investors.
The developer earlier said it expects to launch P57 billion worth of property development projects in the second half of the year.
Ayala Land currently manages over 50 estates nationwide, including high-profile developments in the Makati Central Business District, Bonifacio Global City, Cebu Business Park, Nuvali in Laguna, and Alviera in Pampanga. — B.M.D. Cruz
