AYALA LAND SET TO START ITS BIGGEST PROJECT EVER
MANILA, SEPTEMBER 24, 2007 (STAR) By Zinnia B. Dela Peña - Property giant Ayala Land Inc. is set to embark on its biggest project to date, the Nuvali township in Canlubang, Laguna, which is seven times the size of the Makati Central Business District.
The Nuvali community, to rise on a 1,600 hectare property, is being positioned as a regional center with retail, commercial, business process outsourcing, residential, transport and even recreational components. It will be developed over a period of 30 years and will stretch from Sta. Rosa to Canlubang to Cabuyao.
The project will have essential support facilities and amenities such as retail and service outlets, schools, training centers, residential facilities, sports and recreational amenities.
About eight hectares will comprise a lake and park.
Ayala Land will kick off the Nuvali community with the construction of an IT campus named Technopod. The first building, a four-story structure, will offer 10,805 square meters of office space and is slated for completion in 2008.
The project’s residential component is seen to create the “Next Forbes Park”. Around 70 hectares have been allotted for the residential component.
Only 380 lots will be made available, with residential lots priced at around P8,000 square meters and P20,000 for the commercial lots.
The residential project will have two phases — the first phase having 113 lots and phase 2 with 270 lots.
Nuvali is also expected to evolve into a university town housing Don Bosco College, De La Salle University, St. Scholastica’s College, University of Sto. Tomas, among others. Ateneo, University of Asia & the Pacific and Xavier School reportedly have parcels of land there there.
The Canlubang project follows the P6-billion investment of ALI over the next five to 10 years for the development of the 38-hectare property of the University of the Philippines (UP) into a fully integrated information technology (IT) and IT-enabled services community.
ALI, a unit of conglomerate Ayala Corp. , has set a capital spending budget of P16.2 billion this year, up 17 percent from P13.8 billion in 2006.
Ayala Land, builder of upscale malls, quaint residential villages, and residential and office condominiums, reported a seven-percent rise in net income last year to P3.9 billion.
Chief News Editor: Sol Jose Vanzi
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