ALI unveils P80-B plan for former FTI complex
Property giant Ayala Land Inc. unveiled on Tuesday the P80-billion master plan for its newest central business district (CBD) project in the metropolis—Arca South, which will be built on the 74-hectare property in Taguig City formerly known as FTI complex.
For the first phase of the project, Arca South will have around 20 residential towers spread across three Ayala brands, nine office buildings, a 200-room Seda hotel, a 250-bed QualiMed hospital as well as diverse shopping, dining and entertainment areas, top officials said in a briefing.
Upon full development, the proposed CBD will host about 60,000 residents and a daytime workforce of about 400,000, said Mee-Ann Dy, ALI vice president and strategic landbank management group head. This first phase of development will open up 870,000 square meters of gross floor area evenly split between residential and commercial segments.
“We envision Arca South to become an entrance to Metro Manila for those coming from the south—via SLEx (South Luzon Expressway) from Alabang, NUVALI, Cavite, or even for those using the RORO [roll on-roll off] ships from as far south as Mindanao,” Dy said.
Over the next five years, ALI’s massive investment will transform FTI complex from a collection of old warehouses into a mixed-use commercial development.
Dy said the complex would bring to the property market an inventory of 3,645 residential units broken down into various brands as follows: the upscale Ayala Land Premier (ALP) with 1,100 units, Alveo Land with 900 units and Avida Land with 1,600 units.
The first of ALI’s residential offerings was likewise unveiled Tuesday – the first tower of ALP’s “Arbor Lanes,” a residence with an “intimate garden living” theme.
Jose Juan Jugo, head of Ayala Land Premier, said the first tower would offer 208 units with an average size of 108 square meters priced at P170,000 to P200,000 per square meter. Sales value for the first tower was estimated at P3.5 billion versus an investment cost of around P2.5 billion.
Arbor Lanes, which will sit on a 3.4-hectare lot, is envisioned to be a sprawling garden community comprised of five blocks of 13-15 story condominiums, arranged in a North-South building orientation to maximize breezeways and minimize exposure to the afternoon sun. Some 60 percent of the property had been allocated for landscape and open space. Unit prices start at P10.6 million each. Turnover is expected to start in the first quarter of 2018.
The new development will have pocket gardens and outdoor seating that aim to bring nature closer to each home. It will also feature natural light and ventilation, landscaped courtyards, tree wells and other green architectural features, all intending to make Arbor Lanes a showcase for “sustainable and sophisticated residences.”
Meanwhile, the 900 residential units planned by Alveo Land are estimated to bring P9.2 billion worth of inventory to the property market. Investment cost is estimated at P6 billion.
The 1,600 units that Avida will roll out starting the last quarter of 2014 are estimated to have a sales value of P5 billion.
Arca South will feature three distinct retail areas. It will have its own version of Bonifacio High Street, an open green space flanked by retail developments on both sides. The lifestyle mall will feature upscale fashion stores, specialty retail and select dining establishments that are integrated by a lush landscaped park. It will also have a transit-oriented mall that will be linked to a mass transportation system.
For a complete shopping experience, Arca South will likewise open a regional mall with 150,000 sqm of leasable space starting 2017, during which the first two office towers are likewise expected to be operational. Two new towers are expected to rise every year for the next five years, mostly catering to the business process outsourcing segment.
“We have taken the responsibility in putting in the elements required for a city—residential, institutional, retail, office, hotels then finally, a hospital. The only difference in Arca South is that we are doing it all at the same time instead of one-by-one. This is how strongly we believe in our vision and how much of a commitment we are putting in to see it through,” Dy said.
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