Vol. XXI, No. 187 [ Business World Online ]
Thursday, April 24, 2008 | MANILA, PHILIPPINES
DAVAO CITY — Ayala Land Holdings, Inc.’s first major venture in the city, an upscale mixed-use commercial complex, is expected to be completed by 2012.
Javier D. Hernandez, Ayala Malls Group senior division manager, said the company would invest about P3 billion on the project and start construction on a nine-hectare land within the year.
The shopping mall is a joint project with Anflo Management and Investment Corp. (Anflocor) of the Floirendo family, which owns the property.
Mr. Hernandez, who presented the blueprint of the project to Mayor Rodrigo R. Duterte at the Marco Polo Hotel last week, said the project would require about 5,000 workers.
Two buildings that will be finished next year will house information and communications technology facilities.
Ricardo R. Floirendo, vice-president for South Operations of Anflocor, said earlier Ayala intends to bring to the city a couple of contact center firms.
In November, Ayala and Anflo Management signed a memorandum of agreement for the development of the property, about two kilometers north of the city’s central business district.
The property will be converted into a "mini-city" that will include a two-hectare IT park, commercial spaces and townhouses. — CQF
____________________________________________________________________
