Ayala launches P5-B Fairview Terraces mall
Ayala Land Inc. (ALI) on Friday launched its latest mixed-use development project dubbed Fairview Terraces in Quezon City as the company carves its share of a burgeoning market in northern Metro Manila.
The new P5-billion Ayala Malls destination has a Puregold supermarket as its anchor, but it also rolled out a new retail format through a joint venture with the Rustan group’s Store Specialists Inc. (SSI).
Called Wellworth, the department store is meant to be the first of several that would be launched in Ayala Malls.
As for the supermarket, ALI is also in partnership with Puregold Price Club with the intention of opening eight mid-market stores within the next three to five years.
Fairview Terraces is at the corner of Regalado and Quirino highways, across the latter from SM Fairview and a block away from Robinsons Novaliches. It fights for elbow room in an area that is anticipated to boom with the planned construction of a metro rail line that connects to the North Triangle along Epifanio delos Santos Avenue (Edsa).
ALI officials said Fairview Terraces catered to the AB and broad C market segments in an area where there are some 200,000 households.
“There is high growth [expected] in this area, especially with the construction of [the planned MRT line 7],” ALI president Antonino T. Aquino said in a press briefing. “And this is the gateway to eastern Bulacan.”
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