Posted on September 23, 2014 10:38:00
PM [ BusinessWorld Online ]
AYALA LAND, Inc. (ALI) and Leonio Land
Holdings, Inc. are looking at P15 billion in potential revenue from the first
phase of the Alviera project in Porac, Pampanga -- Ayala Land’s largest
mixed-use community in Central Luzon.
The 207-hectare phase one, which will
be launched on Thursday, entails P8 billion in investment and will house the
Alviera Industrial Park, three residential communities, two educational
institutions, and the Alviera Country Club.
The funds will be sourced from a
combination of internal cash generated by the proceeds of Alviera sales, as
well as debt, Ayala Land President Bernard Vincent O. Dy said at a briefing on
Tuesday at the Holiday Inn and Suites Makati.
Profit sharing between Ayala Land and
Leonio Land is 55% and 45%, respectively, while the project will be undertaken
by Ayala Land subsidiary Nuevocentro, Inc.
The 30-hectare industrial park,
accredited by the Philippine Economic Zone Authority, will cater to
non-polluting light industries and include standard factory buildings in
customizable sizes for lease. The park is expected to generate 5,000 jobs.
“These lots are differentiated from
most other industrial zones by the fact that locators are not limited to
leasing the lots. They can own them.
We will give preference to buyers with
immediate development plans to help create job opportunities in the near
future,” Anna Ma. Margarita B. Dy, Ayala Land’s vice-president and head of
Strategic Landbank Management Group, said during the briefing.
Local manufacturers with export
products have already shown interest, as well as Chinese, South Korean and
Taiwanese manufacturers, according to Rowena M. Tomeldan, Ayala Land’s
vice-president and head of Operations and Support
Services
Commercial Business Group.
The residential segment will house
three Ayala Land brands: Ayala Land Premier, which will “create a new Forbes
park in Pampanga”; Alveo Land, which will cater to mobile young families; and
Avida Land, which will provide “highly affordable” house and lot packages.
The houses will cost P10,000-P15,000
per square meter (sq.m.) and have a floor size ranging from 150-1,000 sq.m.
More than 1,500 residential units will
be developed for the first phase and will be for sale between October and
November this year, the company said.
The development will also house Holy
Angel University and Miriam College, while the six-hectare Alviera Country Club
will start selling shares by October and will be operational by 2016.
Development of the second phase is
scheduled for between 2017 and 2022. Its components include retail and
commercial spaces, hospitals and hotels, among others.
“The development will house a full
range of Ayala Land’s products,” Mr. Dy said.
In total, the 1,100-hectare Alviera
project is expected to have 65,000 residents, 20,000 office and industrial
workers, and 20,000 students.
Asked about an ongoing land dispute
with Porac farmers, the company said it ensured that the land is not suitable
for agriculture before proceeding with the project.
“The parcels of land have CARP
(Comprehensive Agrarian Reform Program) exemption orders from the DAR
(Department of Agrarian Reform), which was upheld with finality -- also by the
DAR. Before we embarked on this project, we undertook due diligence to really
understand whether the property is developable,” Ms. Dy said.
Ayala Land’s first-half net profit
rose 25% to P7.1 billion, while revenue increased 26% to P46.2 billion.
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