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AYALA Land Inc. (ALI) and General Electric have
agreed to collaborate in the development and marketing of the
multinational’s ecomagination products, technologies, and services
in the Nuvali project of the Philippines’ largest property
developer.
Under the agreement, the two will
work to promote green buildings and houses that ALI will develop by
“showcasing green innovations for the community and the home.”
“Nuvali will combine the latest
green building technology with sustainable urban planning,
architecture and construction practices. This partnership, which we
are proudly forging with GE today is a concrete first step in the
realization of this vision for “ecoliving” in Nuvali,” Jaime
Ayala, ALI president, said in a statement.
The partnership with GE comes on
the heels of a recent tieup the Ayala group forged with the Mahindra
group of India for a residential property project in the South Asian
country.
ARCH Capital Asian Partners LP,
managed by Ayala-led ARCH Capital Management Co. Ltd., has formed a
joint venture with Mahindra Residential Development Ltd.
The joint venture company, which
is 51-percent owned by the Mahindra group, will develop an exclusive
residential community within the 1,500-acre Mahindra World City
Special Economic Zone in Chennai. The 750-unit project will occupy
about 55 acres within the ecozone that is designated for low-density
residential community development.
The Mahindra Lifespace Developers
Ltd., the publicly listed real estate and infrastructure arm of the
Mahindra group, developed the ecozone, which is envisioned to become
a world-class facility catering to manufacturers of automotive
accessories, information technology and apparel.
“The addition of a world-class
residential community, backed by the considerable experience and
track record of the Ayala group in large-scale residential township
developments, underpins [the ecozone’s] status as a unique and a
preferred destination for business and investment in India,” Ayala
Corp. said.
--Likha C. Cuevas-Miel
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