MANILA, Philippines – Property giant Ayala Land Inc. (ALI), in partnership with Leonio Land Inc., is pouring in P75 billion over the next 20 years to develop a masterplanned township in Central Luzon seen to be the new hub for business and leisure in the region.
Alviera, a 1,100-hectare integrated mixed-use development in Porac, Pampanga, will be “a town that is complete in itself” and the Ayala Group’s largest development in Central Luzon to date, ALI officials said in a press briefing yesterday.
“This project allows us to do what we do best, and that is develop large-scale, integrated mixed-used communities. Expect great things to happen with Alviera,” ALI president Bernard Vincent Dy said.
ALI and Leonio Land are readying P8 billion for the first phase of the project that will include the development of a quarter of the entire property or 207 hectares over the next three years.
Dy said funding for the first phase would come from a mix of internal cash flows and potential loans from financial institutions.
The first phase of Alviera will consist of an industrial park, three residential communities, two educational institutions, and a country club.
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“With ALI’s rich legacy in developing integrated mixed-use communities, Porac will be transformed to a masterplanned township unlike any other in the province and in the whole of Central Luzon. Makati, Nuvali in Laguna, and Bonifacio Global City in Taguig, all stand as testament to the kind of development the region can expect from Alviera,” said Meean Dy, ALI vice president and strategic landbank management group head.
She said while ALI remains in the hunt for projects in Metro Manila, there are also plenty of opportunities to create growth centers outside the metro.
“It’s good for the economy and it’s good for the country. It’s more inclusive growth as it enables other regions to develop. It’s good for people to have options outside Metro Manila,” she said.
Part of the first phase of the development in Alviera is a 30-hectare PEZA-registered industrial park that would cater to non-polluting light industries.
ALI officials said 16 industrial lots measuring one to 1.5 hectares each would be offered for sale initially.
Dy said Filipino manufacturers with export products have already shown interest while Korean and Taiwanese manufacturers are also being attracted as locators.
“These lots are differentiated from most other industrial zones by the fact that locators are not limited to leasing the lots. They can own them. We will give preference to buyers with immediate development plans to create job opportunities in the near future,” she said.
ALI said more than 1,500 residential units would be developed for Phase one and will be up for sale starting November this year.
Alviera will house three ALI residential brands: Ayala Land Premier, Alveo Land and Avida Land.
The two educational facilities which will be major components of the masterplanned township project are Holy Angel University and Miriam College.
ALI, the property arm of the Ayala Group, is behind various developments in the north which include world-class malls TriNoma and Fairview Terraces, MarQuee Mall in Angeles, Pampanga, and Harbor Point in the Subic Bay Freeport Zone, and residential communities such as MarQuee Residences, Vertis North, and Altaraza in Bulacan.