LISTED property developer Ayala Land, Inc. (ALI) has earmarked P10.3 billion to develop Ascenda in Davao City, which will become its largest mixed-use estate in Mindanao.
The 204-hectare (ha) Ascenda will feature a 65-ha town center and a 139-ha residential district, it said in a statement on Thursday.
“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 and Chief Executive Officer Anna Ma. Margarita B. Dy said.
In 2024 alone, the Davao region’s economy grew by 6.3%, faster than last year’s national level growth rate of 5.7%.
She noted that Asceda forms part of ALI’s growing presence in the region, including Insular Village in 1976, Abreeza in 2007, and Azuela Cove in 2017.
“Now the time has come for us to go full blast here in Davao with our largest estate development ever in the VisMin (Visayas-Mindanao) region.”
Ascenda will be developed in Davao’s Toril district, about 16 kilometers from the city center.
Within the township is Virendo, ALI’s sole residential village under its flagship luxury brand, Ayala Land Premier.
The town center will also have an eco park, prime commercial lots, greenways, restaurants, cafés, shops, and a community church.
“The estate is close enough for residents and businesses to connect with the busier side of Davao life but far enough to enjoy and commune with the peace and beauty of nature, which are front and center of Ascenda’s development philosophy,” the property giant said.
ALI is also looking to benefit from the newly completed Coastal Road and Maharlika Highway system, which will reduce travel time from the Davao City proper from 45 minutes to 25 minutes, and from Matina from 25 minutes to 15 minutes.
The masterplan for Ascenda was developed in partnership with Danish design firm Henning Larsen, and is inspired by Singapore’s Bishan Park.
ALI has over 50 estates nationwide, including the Makati Central Business District, Bonifacio Global City, Cebu Business Park, Nuvali in Laguna, and Alviera in Pampanga.
On Thursday, ALI shares were down by 1.64% or 40 centavos to close at P24 apiece. — Beatriz Marie D. Cruz