By Louise Maureen Simeon (The Philippine Star) | Updated August 20, 2015 - 12:00am
MANILA, Philippines - Nuvali, Ayala Land Inc.’s bustling eco-city in Calamba, Laguna, is seeking to become Calabarzon’s regional growth center as it lays out further expansion in the next five years.
Accounting for 20 percent of ALI’s revenues since 2009 and 15 percent of the parent firm’s net asset value, Nuvali is building up its leasing assets, focusing primarily on office spaces worth P12.5 billion, doubling its size from 31,000 square meters (sqm) to 60,000 sqm as part of its five-year plan.
“One of the company’s major targets for the coming years is to build or locate offices in its mixed-use green urban district. With this, the eco-city is providing potential business locators two types of office formats,” Nuvali general manager John Estacio said.
Nuvali is also upbeat on the opening of the Cavite-Laguna Expressway (Calax), a public-private partnership program of the government, to further boost investments and markets from Metro Manila, Cavite and nearby provinces.
Calax, which will begin construction in the next two years, will directly link Nuvali and South Luzon Expressway and cut travel time by less than an hour from Makati.
“This Calax will be a big boost to us and we think that this will lead us to the right path towards becoming a regional center,” ALI’s Strategic Landbank Management Group head Meann Dy said.
Furthermore, the 40,000-sqm regional mall Solenad 3 is set to be the start of Nuvali’s major push towards being the region’s business and commercial center.
The P2-billion expansion of commercial shopping complex Solenad 1 and 2 that will house local and international brands is seen to provide additional 2,500 jobs from the existing 4,000 jobs.
“Solenad will be a catalyst and a milestone project that will contribute to the speedy overall growth of Nuvali,” Estacio said.
Seven interconnected building under Solenad 3 will house 400 retail shops and restaurants, four cinemas, activity center and fiesta market. The first and second phases of the project were opened last May and August, respectively, the third phase will open by November and the last phase is set in April next year.
Before 2015 ends, Nuvali will intensify its expansion plans by opening several new projects including membership shopping center S&R, which will be launched in the fourth quarter of the year.
The 100-bed general hospital QualiMed, on the other hand, is also set to open in the second quarter of 2016 while outdoor recreational activities site Camp N and international Catholic school Everest Academy are also in the works.