Ayala Land investing P90B in Porac estate
PROPERTY giant Ayala Land Inc. is upgrading its capital spending for Alviera in Porac, Pampanga – its first mixed-use estate with an industrial hub component in northern Luzon – catalyzing development in this formerly lahar-devastated municipality.
In a press briefing on Tuesday, Alviera general manager John Estacio said the 1,100-hectare Alvierra, a joint venture between ALI and Leonio Land Holdings, would be built at a cost of P90 billion over its project life of about 25 to 30 years.
The projected capital spending was raised from an earlier estimate of P75 billion to factor in major infrastructure improvements and tree-planting/bioengineering activities. For instance, new sub-stations directly connected to the national grid were being installed in the estate to ensure ample electricity supply to new locators setting up manufacturing hubs.
Of the total capital outlays, P7.3 billion is expected to be invested in the next three years for the first phase, covering some 207 hectares comprising the new industrial park, a P1-billion six-hectare country club, two academic institutions (Miriam College and Holy Angel University) and three Ayala Land residential communities.
“Alviera has strongly pushed for industrial, residential and recreational developments, as well as tourism” John Estacio, Alviera general manager. “We have made leaps with the SandBox outdoor adventure park as an interim attraction, drawing as much as 120,000 visitors since its opening last year.”
Complementing the Subic and Clark industrial hubs, Alviera Industrial Park (AIP) is expected to generate 5,000 jobs over the next three years. All 16 lots for sale under the first phase of development have been taken up, while three clusters of ready-built, standard factory buildings (SFB) for lease are currently being offered to small to medium enterprises. The SFB floor area totals 20,000 square meters available for lease with rental rate starting at P150 to P200/sqm per month.
The industrial lots for sale are priced at P4,000 to P5,000 per square meter with lot cuts of one to 1.5 hectares. To weed out property speculators, the lot buyers are required to build their manufacturing facility within three years or ALI will otherwise buy back the lots.
The first batch of locators confirmed for the industrial park – which is accredited by the Philippine Economic Zone Authority – are in food manufacturing, plastic packaging, motorcycle parts and electronics industries. They are expected to operate out of this new hub starting January 2017.
Given the strong demand for industrial lots, Estacio said the group was considering to boost the inventory of industrial space in this complex for the next phase.
“Just as we did with Laguna Technopark, the Alviera Industrial Park is primed to drive industry growth for the province. We are getting outstanding government support through PEZA, and there is a competitive labor force readily available in Pampanga and nearby provinces for the industrial park,” said Patrick Avila, AIP general manager.
This project will bring to Pampanga’s property market about 1,500 residential units for phase 1 across the three Ayala Land residential brands.
Avida Land recently launched its first project in the estate, Avida Settings Alviera, located across the future city center. To date, about 85 percent of the project has been taken up. Residential lots are being sold for about P11,600/sqm. Alveo and Ayala Land Premier will launch their own projects later in the year.
The Alviera country club, envisioned as a venue for community convergence, sits at the heart of the development and has been specifically chosen for its panoramic views. It will be managed by the same group behind Anvaya Cove and South Links Golf Club, Ayala Club Management Inc. The P1-billion club, which will feature a cluster of swimming pools and other amenities, is targeted for completion in 2018.
“We naturally expect to draw employees for the country club from the local population. Hotel and Restaurant Management college courses are very popular here. There are also high expectations from Alviera Country Club’s cuisine since it’s situated in the heart of the country’s culinary capital,” said Albert Ong, Alviera Country Club project manager.
Individual shares for the club are currently selling at P580,000 while corporate shares go for P950,000.
“Following the success of Ayala Land in developing large-scale master-planned mixed communities like Makati, Bonifacio Global City and NUVALI, we envision a bright future ahead in our newest venture in the north,“ Estacio added.
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