P28.5B Ayala Center redevelopment takes shape

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The p28.5-billion redevelopment of Ayala Land Inc.’s “crown jewel,” Ayala Center, has taken shape with the debut of two upscale hotels, two new office buildings and a revitalized Glorietta shopping center before the year ends.

Local property giant ALI is also set to launch this November a new high-end two-tower residential development, Garden Towers, the first skyscraper of which will cost P3 billion to build. The launch of the new residential project under the Ayala Land Premier brand follows the rollout of the three-tower Park Terraces where 1,128 units are now 84-percent sold since the first tower was unveiled in 2010.

By December, the 32-room all-suite Raffles Makati and the 280-room Fairmont Hotel will open their doors to affluent business and leisure travelers—the newest luxury accommodations to be built in the Makati central business district in nearly two decades. They will share a 30-story building with high-end serviced apartment Raffles Residences with 237 units, of which 110 units will be included in ALI’s hotel inventory. Raffles Residences will occupy the 11th to 30th floors, Raffles Makati, the 9th to 10th floors while Fairmont will be at the 3rd to 8th floors.

By April 2013, a third hotel brand—the 348-room mid-budget Holiday Inn and Suites Makati, which will be directly connected to the Glorietta hub—will also open for business.

“This is the most ambitious program Ayala has done,” ALI president Antonino Aquino told a press briefing. “We’re almost complete and about to inaugurate various components.”

Raffles will offer accommodations starting at $350 a night while Fairmont will offer at the $200 to $220 price points. Holiday Inn will offer accommodations for $130 a night.

“As we pursue our growth strategy with the development of other business districts in Metro Manila and across the country, we will continue to enhance Makati so it maintains its place as the premiere destination in the Philippines,” Aquino said. “Makati began the trend of master-planned communities in the Philippines over 50 years ago. It will remain a prime example of sustainable urbanization and the main vehicle for transformation this year is the Ayala Center.”

The Ayala Center makeover is seen boosting ALI’s recurring revenues. In addition to the completion this December of the Glorietta redevelopment, with a gross floor area of 54,000 square meters of retail space, the ambitious redevelopment also includes the addition of two office towers with a gross floor area of 50,000 sqm. The office towers will cater to business process outsourcing firms.

For the Glorietta shopping center, which has 650 existing stores, 214 new stores will be added. The complex will also have a “re-energized” activity center for diverse, round-the-clock events.

This redevelopment plan, the first phase of ALI’s long-term master plan for Ayala Center, covers only a third of the 24-hectare prime property, Aquino said. It is also part of ALI’s P60-billion investment plan for six major districts in Makati for the next five years.

While this phase of the Ayala Center redevelopment focuses on the area closer to Pasay road, ALI reserves the landbank nearer to the Ayala Ave. side for future phases of redevelopment.

On the residential component, the first tower of Park Terraces, which was launched in 2010, will be ready for turnover to residents in 2015; its Point Tower in 2016 and the third tower in 2017.

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  • screwdisk

    CityLink of Singapore is one of the best example for underground commercial establishments. 

    • Pau Ch

      Not really an example to be copied because Singapore does not experience 24 typhoons every year. Kung tinamaan ang Singapore ng bagyong Ondoy im sure lubog din sila. Dapat ang gayahin ng Pilipinas yung ginawa ng Ayala sa Bonifacio Global City na never binabaha kasi sa ilalim ng Burgos Circle Park eh isang gigantic water basin. Lahat ng tubig nalalaglag dun kaya hindi bumabaha sa BGC. Yan ang dapat gayahin sa buong bansa. Minsan nga sana Ayala nalang ang namamahala sa Pilipinas kasi mas magaling pa silang mamahala kesa sa gobyerno. Kaya umunlad ang Makati hindi dahil sa gobyerno kundi dahil sa mga investments ng Ayala. Kaya nagkaroon ng Bonifacio Global City hindi dahil sa mga politiko ng Taguig kundi dahil sa investments ng Ayala. Ayala rin may ari ng resorts sa El Nido. Ayala is one of the few Spanish-era families sa Pilipinas na never pumasok sa pulitika pero yumaman dahil sa mga negosyo. They put economics over politics. Ang ganda pa naman pakinggan ng President Zobel de Ayala, di ba? hahaha

  • http://pulse.yahoo.com/_KF2TCBJ2AUC7VIPR3TACWUGITE Rednaxela VD

    Property bubble…

    • Pau Ch

      paano magkakaroon ng property bubble eh Philippine banks are the best capitalized banks in Asia along with Singaporean banks. The Philippines still has 3.1 million units backlog. And bad loans, credit faults, decreased even lower. Saka there are 10 million OFWs and they are financially capable of paying for a house or condominium unit. 

  • sarce0101

    when they say hi-end sana hi-end din ung ceiling. para kasing naka-design para sa maliliit na tao ung mall/center eh!. tulad ng trinoma, parang magulo ung utak? noong desinger/layout person. just an observation. sana i-consider lahat, not just profit.

    • Pau Ch

      punta ka sa Greenbelt yun ang high end. TriNoMa is not high end, hello? ang daming nakatsinelas kasi ba naman nakaconnect sa MRT.

      • sarce0101

        example lang ung trinoma na d na-consider ung ceiling height ng ayala group. kung di ako namamali, ung existing/old glorietta ay limited ceiling height din, puwera na lang ung extension/expansion nila.

  • sarce0101

    when they say hi-end sana hi-end ceiling din. para kasng naka-design para sa maliliit na tao ung mall eh! just an observation only. tulad noong trinoma, mukhang magulo ung utak noong designer/layout person eh!

  • http://pulse.yahoo.com/_SWTZ7L5OAVYJ6CBMEVJD5YUYSM Mike

    Make Alaya Center a Green city. Get rid of dilapidated heave smoke belcher jeepneys and replace them with e-Jeepneys. Grabeh na ang pollution along Pasay Rd. and Ayala Ave.

  • http://profile.yahoo.com/CCM42NDQHD3YK6KN66RGBZZR6A Miguel Antonio

    All these good investments will end-up submerged in flood if we don’t push our in*fficient and co*rupt leaders to address the perennial flooding of Metro Manila.

    • Pau Ch

      hindi binabaha ang Glorietta LOL Dapat gayahin nila ang Bonifacio Global City never binabaha kasi may malaking underground water basin sa ilalim ng Burgos Circle.

  • Albert Einstien

    i think the FTI ayala property will be their BEST ASSET….it is like the MONA LISA ….if we talk about paintings… it is NOT just a gateway for north & south luzon…it is the EPICENTER of future commercial development…especially if they buy the whole area of upper barangay signal…adjacent to the FORT…. over looking laguna bay , the FORT , Makati bldgs, manila bldngs & Pasig bldngs & eastwood…..they should build  TWIN  TOWERS there with 200 floor plan….

    • http://profile.yahoo.com/EAJURBFRLQBNCHUC5ZZJXCHNHA bubu

      Sorry to burst your bubble but ayala cant build tall bldgs at the fti site since its near or direct in the flight path of airplanes.

      • Albert Einstien

        i think they will be transfering Intl airports….near the bay area &  at macapagal…..besides the air traffic is on the other side traversing cemeteries…distance is quite far already……so enthusiasm &  probability is high…..

  • http://pulse.yahoo.com/_AYITA5V33GYZSLC3G37UCVNTKA Ben

    Ayala land should also develop underground walkways, moving walkways and escalators to connect the Ayala center to different streets in all directions for high end walkers, office workers, and tourists without having to encounter the hassles of above ground snarling traffic, rude drivers and heat…and then that area will then be world class and even with jumpacked development and increased day population and the resulting increased traffic the underground walkways will continue to keep the area accessible…

    • DIGOYBULOY

      thanks for your feedback!  I will inform uncle Zobel about your very important comment.  Ang galing mo talaga, ikaw lang yata nakaisip nyan.  ibang klase ka talaga mag-isip. Lol

      • Pau Ch

        Uncle mo si Zobel? Eh lolo ko yun eh! Small world! LoL

      • http://pulse.yahoo.com/_AYITA5V33GYZSLC3G37UCVNTKA Ben

        20 years ago, they talked about creating airconditioned elevated walkways connecting various buildings in Makati for people…but end up only as just talk…I think for a change, Ayala should innovate and invest also in ways to get their ayala center accessible. Ayala center will get enhanced if they can think of underground walkways, equipped with escalators, elevators, and moving walkways that can also be a tourist attraction with establishements and make Makati really a world class area….

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