By Zinnia B. Dela Peña (The Philippine Star) Updated September 27, 2011 12:00 AM
MANILA, Philippines - Property giant Ayala Land Inc. (ALI), together with the Makati Commercial Estate Association (MACEA), is investing around P1 billion in a revolutionary bus rapid transit (BRT) system that will go around the entire Makati central business district.
Anna Bautista-Dy, ALI vice-president for strategic landbank management group said the BRT, the first of its kind in the country, will have the speed and efficiency of a railway system with minimal cost for operation.
The system, which will be located from the intersection of Ayala Ave. and Epifanio De Los Santos Ave. up to Ayala Ave.-Gil Puyat Ave., is intended to streamline public transport and improve pedestrian flow within the city.
MACEA has already submitted a build-operate-transfer proposal to the government. The system will eventually be connected to the Bonifacio Global City.
The system is part of the P20-billion first phase redevelopment plan for the Ayala Center which includes two hotels, three residential towers and two office buildings.
“Makati has always been the prime model of a highly developed key urban destination in the Philippines. [ALI’s] vision and intent to work closely with key partners, such as the local government of Makati and MACEA, prompted the company to invest into Makati’s potential,” said Antonino T. Aquino, president of ALI.
Dy said the facelift program for Ayala Center remains on track with most of the retail stores, office buildings and hotels slated for opening in 2012.
The Ayala Center redevelopment will transform Makati’s premier shopping hub into a world-class mixed-use development that will feature an integrated community with new shopping, lifestyle and entertainment areas, office developments, residential condominiums, and hotels while enhancing traffic and pedestrian mobility through efficient use of open spaces.
Included in the ongoing redevelopment is the Palm Promenade that will have outdoor cafes and tree-lined walkways along Pasay Road.
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