Vol. XXI, No. 244 [ Business World Online ]
Monday, July 14, 2008 | MANILA, PHILIPPINES
DAVAO CITY — The housing committee of the City Council has recommended the partial conversion of a nine-hectare property into a commercial zone in support of a P3-billion joint project of Ayala Land, Inc. and Anflocor Investment and Development Co.
Councilor Arnolfo Ricardo B. Cabling, committee chairman, said the recommendation is in support of big businesses coming to Davao City. The property was earlier identified as a residential area under the city’s 1996 Zoning Code.
Mr. Cabling said the recommendation of his committee was to approve the project in support of big businesses coming to the city. Councilor Danilo C. Dayanghirang, majority floor leader, said he would lobby for the approval of the recommendation.
The two councilors said the Ayala project is a sign for other big businesses to invest in Davao City.
A week ago, the Asian Institute of Management released a survey recognizing the city as the most competitive in the big metropolis category. But the International Finance Corp. has also released a study showing the city is inefficient in processing business applications.
Aside from a shopping mall, the project will also have a two-hectare information and communications technology (ICT) park and other amenities.
Ricardo R. Floirendo, Anflocor South Operations senior vice-president, earlier said the project, forged in Makati City last year, would be a mini city — "a shopping mall with a garden." Mr. Floirendo’s family, among the landed few in the city, owns the property.
Javier D. Hernandez, Ayala Malls Group senior division manager, said the project would have a distinct character.
He added that the project is expected to be completed by 2012. The first phase, which will include the ICT park, will be operational starting next year.
Mr. Floirendo’s elder brother Antonio, vice-chairman of the holding company Anflo Management and Investment Corp., said the project is part of their diversification plan.
Anflocor has also expanded into agriculture through subsidiary Tagum Agricultural Development Co. The elder Floirendo, a former congressman, said the company would develop projects in properties acquired through the years. — Carmelito Q. Francisco
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