Posted on May 19, 2015 11:00:00 PM [ BusinessWorld Online ]
AYALA Land, Inc. (ALI) is raising its
investment in its Alviera township in Porac, Pampanga -- its largest mixed-use
community in Central Luzon -- after citing strong demand for residential and
industrial lots within the estate.
ARTIST’s rendition of Ayala Land’s
Alviera in Pampanga -- ALVIERA.PH
In a briefing yesterday, Alviera
General Manager John R. Estacio said the 1,100-hectare mixed-use development
will be built at a cost of P90 billion, higher than the P75 billion that was previously
announced in September 2014.
“We just did initial estimates [when
we launched the project last year].
Along the way, there was certain
fine-tuning,” Mr. Estacio said, noting that there were no changes to the
township’s master plan.
Ayala Land is spending P7.3 billion
over a three-year period to develop the first phase of the project covering
some 207 hectares. It comprises roughly 1,500 residential units from three
Ayala Land communities, a 31-hectare industrial park, a six-hectare country club
and two academic institutions such as Holy Angel University and Miriam College.
All 16 lots for sale at the Alviera
Industrial Park have already been taken up, said Patrick John C. Avila,
department manager of the commercial business group, with locators in the
Philippine Economic Zone Authority-accredited park engaged in the food
manufacturing, plastic packaging, motorcycle parts and electronics industries.
The first tranche of locators are
expected to operate starting January 2017, Mr. Avila added.
Three clusters of ready-built,
standard factory buildings (SFB) for lease are currently being offered to small
and medium enterprises.
The SFB floor area totals 20,000
square meters available for lease with rental rate starting at P150-P200 per
square meter per month.
Affordable housing unit Avida Land
recently launched Avida Settings Alviera, the first residential project to be
launched in the estate. To date, about 85% of the project, offering 563 lots
and house-and-lot packages, has been taken up.
Upper-mid brand Alveo Land is set to
launch a 784-lots only project next month, while upscale brand AyalaLand
Premier will unveil a 530-lots only development located beside the Alviera
Country Club in the third quarter of 2015.
Ayala Land is pouring in P1 billion to
build The Alviera Country Club, managed by Ayala Club Management, Inc. -- the
same group behind Anvaya Cove and South Links Golf Club. The club, which
features a number of world-class facilities, is targeted for completion in
2018.
Up to 2,000 club shares will be
available for sale priced at P580,000 for individual shares and P950,000 for
corporate shares.
ALI shares fell 0.85% or 35 centavos
to close at P40.65 apiece. -- Krista Angela M. Montealegre
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