Alveo Land Corp., Ayala Land Inc.’s upscale residential-commercial development subsidiary, is expecting more take up from the Japanese retiree community in its residential projects in Cebu, a company official said Tuesday.
Vincent Carl Bacungan, Alveo project development manager in Cebu said this after the company secured an accreditation from the Philippine Retirement Authority (PRA), making its projects a to-go place for retirees.
“With the recent accreditation, we expect an increase in take up from Japanese retirees in the next few years,” said Bacungan.
Alveo has three projects in the Cebu Business Park: the five-tower Solinea residential condominiums; the Sedona Parc residential tower; and the office condominium building, BPI Corporate Center.
Bacungan said the 10 percent take up from the Solinea residential towers were from retirees, mainly Japanese.
He explained that the PRA accreditation, which Alveo got last September, is expected to attract retired Japanese individuals, who want to settle in a leisurely tropical country, particularly away from the hustle and bustle of a metropolitan area.