Property giant Ayala Land Inc. may launch new a mixed-use estate project in the second half of the year, in line with its overall plan to introduce one or two estates per year, according to a company official.
In an interview, ALI Chief Financial Officer and Senior Vice President Jaime Ysmael told reporters of the possibility of launching a new estate project in the second half of 2016.
“We’ll see. We still have quite a bit of land that we recently acquired. So the ideal is one to two estates per year for sure,” Ysmael said.
In the first half of the year, ALI launched one estate development, the 17.5-hectare Gatewalk Central in Mandaue City, which features residential, retail, and office components.
At present, ALI has a total of 19 estates under its portfolio, a number of which are still undergoing development.
Current estates being developed by the firm include Circuit Makati, Arca South in Taguig, Vertis North and Cloverleaf in Quezon City, Vermosa in Cavite, Altaraza in Bulacan, Alviera in Pampanga, Atria Park District in Iloilo City, and Capitol Central in Bacolod City, among others.
Ysmael noted a number of the company’s future estates would be located outside of the country’s capital, in line with the current administration’s focus on regional development.
“We have positioned ourselves in a lot of interesting places outside the core or traditional market, which is Metro Manila, so a lot of them are well-positioned to take advantage of the connectivity these new infrastructure projects—including PPP projects—will bring,” Ysmael said “So yes, a lot of them will be in non-traditional areas. Consistent, I guess, with the thrust to move development to the countryside.”
The CFO confirmed that infrastructure development is one of the factors that the company looks into when looking for property on which to locate its estates, but emphasized that they are not dependent on the infrastructure provided by the public sector.
“It’s one factor [infrastructure]. In most cases we don’t rely on the government to provide the infrastructure. We do it on our own. Provided that there’s some good access in an existing infrastructure in play. Existing road network, or airport, whatever. That’s normally where we position,” Ysmael expressed.
Ysmael did not specify prospective areas that the company is eyeing for development, but noted that they see opportunities both in the northern and southern part of the country.
Aside from infrastructure, Ysmael noted that the demographic profile of particular location is a key factor in looking properties for estate developments.
“But of course the locality also has to have the right demographics to allow for businesses to thrive. The large amount of population, educated workforce, presence of institutions, schools, etc. And per capita GDP that is big enough to accommodate the kind of development we intend for that market,” the company official said.