By Alena Mae
S. Flores | Posted on Apr. 25, 2013 at 12:02am |
[
manilastandardtoday.com ]
ILOILO
CITY—Property developer Ayala Land Inc. said Wednesday it is investing over P15
billion in Atria Park District, a mixed-use community in this city over a
10-year period.
Atria Park
integrates residential, retail and business clusters as well as healthcare and
educational institutions in a single 21-hectare complex.
The
development will include the residential projects of Ayala Land subsidiary
Avida Land Corp. called Atria condominiums, as well as parks and landscaped
areas, commercial and office establishments, a hotel and a four-story hospital
called University Physicians Medical City Iloilo.
Atria Park
District is projected to generate close to 10,000 jobs, from its construction
to operation, according to Ayala Land.
“Atria Park
District represents our largest investment here in Iloilo with more developments
expected over its 10-year construction plan. We take pride in bringing a
complete live-work-play experience for the Ilonggos in a sustainable
community,” Ayala Land president and chief executive Antonino Aquino said.
“This will
hopefully help in the further development in the city,” he said.
Altria Park,
situated at the emerging city center in the vibrant area of Mandurriao, is
accessible to the business process outsourcing offices of the Iloilo-Ayala Land
TechnoHub, schools, churches, hospitals, entertainment strips and hotels.
Ayala Land
said it was building the hospital, costing P600 million in partnership with
Panay Medical Ventures Inc. to help position Visayas as a medical tourism hub.
“Ayala Land
is continuing its tradition of building large-scale, integrated mixed-use
communities in key growth areas across the Philippines,” Aquino said.
Meanwhile,
Ayala Land and Aboitiz Land agreed to form a 50-50 joint venture to develop
properties in Cebu. This will be the
second partnership between the Zobel de Ayala and the Aboitiz families, after
the two groups earlier teamed up to bid for the P17.5-billion Mactan-Cebu
International Airport project.
Ayala Land
said in a disclosure to the stock exchange the joint venture with Aboitiz Land
was consistent with the company’s growth strategy of establishing more
developments in the major urban areas in the country.
“Through this
joint venture, the company expects to generate synergies by combining the
experience of Aboitiz Land in developing diverse real estate products in Cebu,
with Ayala Land’s expertise in building a full range of real estate formats
including large-scale integrated mixed-use communities,” Ayala Land said. With
Jenniffer B. Austria
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