PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

FTI-related deals eyed by Ayala Land

Posted on November 11, 2012 10:30:26 PM[ BusinessWorld Online ]

AYALA LAND, INC. is looking to partner with the Public Works department for the construction of a new road and bus terminal at the Food Terminal, Inc. (FTI) complex, part of which was won by the property firm in an auction earlier this year.

Having noted that projects such as the C-5/FTI/Skyway Connector would improve access to the industrial estate, Ayala Land investor communications head Pamela T. Perez said the developer was "interested in planning them with the government."

A feasibility study for the 6.8-kilometer connector is being studied by Department of Public Works and Highways (DPWH). The project cost has been pegged at P5.64 billion, with construction scheduled to take three years starting 2013.

Ms. Perez said Ayala Land was also exploring the feasibility of constructing a transport terminal that would ensure easy access to and from the nearby cities of Makati, Taguig, and Pasay.

"There is the possibility that the Skyway/C-5 connector road project would enable a bus rapid transit system to run along C-5 between Makati CBD (central business district), BGC (Bonifacio Global City), FTI and NAIA (Ninoy Aquino International Airport) in the future. We are consequently coordinating with DPWH on the design of this bus terminal," she said.

The property firm won the bidding for 74 hectares of FTI last August, submitting a P24.331-billion offer to the government. The industrial estate, currently home to over 300 light- to medium-scale firms, will be developed into a new business district.

real estate central philippines
Copyright ©2008-2018