PROPERTY giant Ayala Land Inc. (ALI) is shelling out P70 billion in capital expenditure for a new master planned integrated community in Cavite, the 700-hectare Vermosa, for the next 12 to 15 years of development.

ALI said on Wednesday that the Vermosa will have mixed-use developments patterned on the Makati Central Business District (CBD), Bonifacio Global City and Nuvali. The development is divided into 60 percent residential, 20 percent commercial office and retail, and 20 percent institutional and open space areas.

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