By Jenniffer
B. Austria | Posted on Dec. 19, 2012 at 12:01am |
[
manilastandardtoday.com ]
Ayala Land
Inc. has signed an agreement to develop the so-called Plastics City of
businessman William Gatchalian in
Valenzuela City.
Ayala Land
president Antonino Aquino said in an interview at the sidelines of the
groundbreaking of the One Bonifacio High Street in Taguig City the agreement
covers 17 hectares of property, with 2.3 hectares to be initially developed by
low-income housing unit Avida Land Corp.
Aquino said
Ayala Land plans to develop the entire 60-hectare lot, which is owned by
Gatchalian’s Philippine Estate Corp.
The property,
which Ayala will develop over a period of 10 years, will be transformed into a
mixed-use project with retail, residential and office components.
Aquino said
Ayala Land would put up several mid-rise buildings on the 2.3 hectares up for
initial development.
Ayala Land,
meanwhile, said it started developing the premium urban block at the Bonifacio
Global City that would house the P3-billion new headquarters of the Philippine
Stock Exchange, a high-end residential tower and a P2-billion premium
commercial complex.
PSE’s
headquarters is a 22-story building that will have a gross floor area of 36,000
square meters.
About 29,000
square meters are leasable area, with 19,000 square meters to be allotted to
the PSE and active stockbrokerage firms. The iconic building is expected to be
completed by 2016.
Ayala Land
will develop a P2-billion
high-end mall offering 24,000 square meters of gross leasable area.
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