Posted on January 11, 2012 10:27:23 PM
AYALA LAND, Inc. has pledged to sink in P12.5 billion more into its mixed-used development NUVALI in Laguna to boost its commercial and residential portfolio.
This comes on top of an earlier P8-billion investment in the 1,860-hectare property, which was spent to develop 45% of NUVALI’s total land area.
The complex, established in Canlubang in 2007, was formerly an agro-industrial estate.
“This is by far the biggest and most successful development of Ayala Land in terms of scale and development. It is projected to be the next regional center of CALABARZON (Cavite, Laguna, Batangas, Rizal, Quezon),” said Aniceto V. Bisnar, Jr., Ayala Land senior vice-president and NUVALI general manager in a press briefing yesterday.
Commercial and residential land values in NUVALI have reportedly appreciated by 28% and 57%, respectively since 2008 while revenues from NUVALI’s various developments last year totaled P3 billion, Mr. Bisnar said.
Upscale Ayala Land Premier, middle-income Alveo, and affordable Avida are launching or turning over new developments this year, with a low-cost Amaia project expected to break ground this year.
Ayala Land is also investing around P180 million to put up Xavier School Nuvali, which will open its doors to kindergarten and grades 1 to 3 students in June this year.
At 15 hectares, the four-building school will be twice the size of the Jesuit-run school’s existing San Juan City campus, and the Xavier School’s first co-educational institution in the country.
Ayala Land shares surged by 4.15% to P17.08 yesterday. -- Franz Jonathan G. de la Fuente