MANILA, Philippines -- Ayala Land Inc. launched Thursday a P5-billion mixed-use property development project in the City of Manila.
The project will be put up on the sprawling 11-hectare former San Lazaro racetrack of Manila Jockey Club. Dubbed Celadon Manila, it is Ayala Land?s first in-city integrated development with residential and commercial spaces and office spaces for business process outsourcing.
Celadon will have a gross floor area of more than 150,000 square meters.
In a press briefing, Ayala Land officials said the project would bring together several Ayala Land brands: Ayala Corporate Business Group for the commercial development, Ayala Malls for the retailing component, and Community Innovations for the residential component.
The retail and commercial development will be on Felix Huertas Street and will have about 3,000 square meters of shops, dining and leisure establishments.
Its business process outsourcing (BPO) component, which will occupy about one hectare of the property, will also be Ayala Land?s first office development in Manila and is touted to be the largest BPO site in the city, said Iris Josef, project head at Community Innovations.
Ayala Land is in talks with major BPO players -- Convergys and PeopleSupport -- to locate in the site.
The BPO project is expected to generate about 13,000 jobs when fully built.
The residential component, which accounts for 5 hectares of Celadon Manila, will consist of two developments?townhouse community Celadon Residences and condominium project Celadon Park.
Celadon Residences is a 4.2- hectare master planned residential townhouse community that will offer 202 units. Unit sizes will range from 168 square meters to 204 square meters. They will be sold for about P9.5 million to P12.5 million.
Celadon Residences will also have more than 22,000 square meters of greens and open spaces.
Celadon Park will offer 600 condominium units with floor areas ranging from 49 square meters to 295 square meters and priced between P3.8 million to P8.6 million.
?This integrated development will create land value that will increase over time,? Ayala Land senior vice president Rex Mendoza.