PROPERTY developer Ayala Land, Inc. (ALI) said it is strengthening its footprint in the Visayas and Mindanao regions with several projects, both residential and commercial, which are already in full swing.
“For economic growth to be truly felt by more people, real estate developments should expand beyond Metro Manila,” ALI VisMin Chief Operating Officer and Cebu Holdings, Inc. President Aniceto Bisnar Jr. said in a statement on Wednesday.
“We see this shift as a positive development and Ayala Land is committed to contribute to the transformation and progress through its projects in the Visayas and Mindanao,” he added.
The company said it is slated to launch a new 14-hectare estate in Mactan, Cebu in partnership with the Gaisano group.
In Davao City, ALI will soon launch the 25-hectare estate Azuela Cove, which is located in a prime waterside property owned by Aviana Development Corp., a joint venture company of ALI and the Alcantara group.
Its first phase will include a high-end residential development by Ayala Land Premier, a state-of-the-art St. Luke’s Hospital, a retail center, an events tent with a capacity of 2,000 people, and interim sports facilities to prime the area.
The integrated development is expected to draw additional investments and generate about 13,000 jobs within the next 8-10 years.
“We are excited about expanding in the Davao City market once again and are confident in supporting its overall economic plan,” ALI VisMin area head for Mindanao Rico Manuel said.
“We, along with our partners, set aside an initial investment of about P8 billion, part of an expected over P20 billion investment over the next eight years or so in Azuela Cove.”
In Western Visayas, the property developer said it is ramping up construction of its Capital Central and North Point projects, both in Negros Occidental, as well as Atria Park District in Iloilo.
The Enclaves by Ayala Land Premier launched a new phase at North Point in February of this year, while North Point Yard, an eclectic mix of retail concepts, is set to open in the latter part of 2017.
Other projects such as another Seda Hotel brand, a shopping center, a BPO building and a residential condominium will soon rise in Bacolod City.
“Of Ayala Land’s 22 estates, 13 are now situated outside of Metro Manila, eight of which are located in Visayas and Mindanao, and we plan to launch three more estates soon,” said Bisnar.
“With support from various stakeholders, we will continue to ensure the sustainability of these estates so that many more across the country will benefit from the opportunities that are typically fueled by infrastructure and property development.”
ALI is the property unit of conglomerate Ayala Corp.