ALI to build P75B estate in Pampanga

MANILA, Philippines–Property developer Ayala Land Inc. is investing P75 billion to develop a new community in Porac, Pampanga, as it seeks to lure homeowners and manufacturers to northern Luzon.

Company officials on Tuesday said in a briefing that the 1,100-hectare project, to be developed through a venture with the Leonio clan, would take 20 years to complete. It will comprise residential communities, industrial parks, schools and recreational facilities.

Ayala Land CEO Bernard “Bobby” Dy said that the project, dubbed Alviera, would allow the company to replicate its success in developing other large-scale communities, like the 1,800-hectare Nuvali project in Laguna province.

The size of the property development “allows us to do what we do best,” Dy said during the briefing.

Anna Margarita Dy, Ayala Land vice president said that, over the next 20 years, the project would provide homes to around 65,000 people, and employ 20,000 workers.

Ayala Land said the first phase of Alviera would be launched this month. The initial phase will involve 207 hectares, about a quarter of the entire project, with an estimated P8-billion investment over a three-year period.

The Alviera Industrial Park, meanwhile, is a 30-hectare project registered with the Philippine Economic Zone Authority and will cater to non-polluting light industries. Local exporters have already shown interest. Korean and Taiwanese manufacturers are also drawn to the property, Ayala Land said.

Ayala Land will be offering three brands in the sprawling estate. Under Ayala Land Premier, the builder will create a “new Forbes Park” in Pampanga with each lot measuring about 1,000 square meters. Alveo Land will cater to the upwardly mobile young families with lots right beside a school. Avida Land will offer highly affordable house-and-lot packages. More than 1,500 residential units will be developed for phase one, and may be up for sale by November.

Ayala said land cuts will range from 150 to over 1,000 square meters, with prices ranging from P10,000 to P15,000 per square meter.

Educational facilities will also be major component of Alviera, with two key schools now in the works: Holy Angel University and Miriam College.