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Ayala invests P6.8b in Bulacan

By Jenniffer B. Austria | Mar. 27, 2014 at 12:01am [ manilastandardtoday.com ]

Property developer Ayala Land Inc. said Wednesday it will spend P6.8 billion over the next five years to develop a 100-hectare property in San Jose del Monte City, Bulacan into a new town center.

Ayala Land president and chief executive Antonino Aquino said Altaraza Town Center in San Jose del Monte was masterplanned to contain residential projects, a shopping mall, a hospital, a school and office buildings for business process outsourcing companies.

“The project would be an important piece of property because it is at the cross roads of new infrastructure projects that the government is putting up like the MRT 7 and other major highways in Bulacan,” Aquino said in a news briefing following the groundbreaking ceremony of Altaraza.

Ayala Land’s two residential brands, Amaia and Avida, will develop housing projects that will cater to the low and affordable segments of the market.

Avida will sell 400 units of lot only and house and lots worth between P2.6 million to P5.5 million while Amaia will put up six residential condominiums offering a total of 1,400 units for P1.4 million to P2.5 million each.

Ayala Land will also establish a 100-bed healthcare facility through QualiMed hospital.

The property firm started selling some commercial lots within the property to jump-start the development within Altaraza.

The township project will also feature a 7,800 square-meter Central Plaza, a five-hectare rain garden that will function as a detention pond and 1.6-hectare nature park, which will also contain amenities for residential buyers.

Collegio de San Agustin is also constructing a 20-hectare campus offering primary and tertiary education, a church and a sports stadium.

Altaraza, which will be the first township development in San Jose del Monte, is envisioned to provide a convenient, organized, and modern residential and commercial experience to a broad market.

Aquino said the launch of a huge project in Bulacan was a part of the company’s strategy to continue to expand its footprint in key major locations in the country.

Ayala Land, which has been known for its posh property developments in south of Metro Manila, particularly, Makati and Alabang, has been aggressively putting up projects in new locations to boost its net income.
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