Posted on March 13, 2013 10:20:01 PM [ BusinessWorld Online ]
DAVAO CITY -- Listed property developers Ayala Land, Inc. and Vista Land & Lifescapes, Inc. plan to open in the third quarter two new developments -- a mixed-use project and a commercial center -- in this city’s Bajada district, officials of the two companies separately told local journalists here recently.
Ayala Land will open the seven-floor Ayala Corporate Center, which will form part of the firm’s Abreeza mall complex here, Maria Rowena M. Tomeldan, Ayala Land vice-president and operations and support services head, said in a recent briefing.
Ms. Tomeldan said a 1,500-seat call center will occupy Ayala Corporate Center’s top three floors, while retail and office spaces will take up the lower four floors.
While “top local retailers” have set up shop in Abreeza mall, Ms. Tomeldan stressed that her company wants “to erase the impression” that the development caters only to “high-end” customers, saying “if you look at Abreeza mall you have affordable options here...”
“If there are opportunities to bring in fresh concepts that will continue to rejuvenate the mall and excite the customers, (then we will) expand...,” Ms. Tomeldan added.
The entire 10-hectare Abreeza complex resulted from a partnership of Ayala Land and Anflo Investment and Management Corp.
Villar-led Vista Land will also start operating within the third quarter the commercial center of Northpoint, the first residential condominium complex of Communities Davao, Inc. -- Vista Land’s unit that offers Camella Homes and Crown Asia brands here.
Marlon Nino B. Escalicas, Communities Davao manager, said among the locators are coffee shops, restaurants and lifestyle-related outlets like a spa.
The commercial center will occupy one hectare of the 2.8-hectare British-inspired project, which has four condominium buildings dubbed Manchester, Birmingham, Nottingham and Liverpool.
Northpoint is also located in the city’s Bajada district just two kilometers north of the city proper.
“The shops will not compete with those in the malls as they will be specialty shops.” Mr. Escalicas said in a recent interview.
Some of those that will locate in the new development are establishments with existing partnerships with Villar-led projects, he said, without elaborating. “We have maintained a good working relationship with these businesses,” he said.
Shares of Ayala Land lost 20 centavos or 0.64% to P31.20 apiece yesterday from P31.40 last Tuesday, while those of Vista Land shed eight centavos or 1.47% to P5.35 each from P5.43. -- C. Q. Francisco