Ayala Land inks pack with SBMA for P3-billion project
By subictimes.com

SUBIC BAY Freeport: all is set for Ayala Land Inc. to develop a 7.5
hectare prime land in Subic after officials of Subic Bay Metropolitan
Authority and Ayala Land signed an agreement that would pave the way for
the P3 billion project in Subic.

Ayala Land Inc. has signed a 50 year deal with SBMA for the development
of a prime lot located along the Rizal Highway, the lot is located
between the main gates of the Freeport.

The project is expected to generate some 10,000 new jobs from the start
of its construction.

Ayala Land Inc. would build a shopping mall complemented by a business
process outsourcing office building and hotel.

“The company’s development will be a catalyst for growth in the
Subic-Olongapo corridor and will be a major mixed-use project in the
Subic Freeport Zone that is well-planned, integrated and environmentally
sustainable,” Ayala Land inc. deputy compliance officer Alfonso Javier
Reyes was quoted saying in recent reports.

The proposed mall will offer basic goods seeking to address the everyday
needs of Subic and Olongapo as well as unique concepts that will also
serve tourists and transients, Reyes added.

This development is company’s first foray into Subic Bay Freeport
itself, although it has an investment in leisure estate Anvaya Cove in
nearby Morong, Bataan which was introduced in 2005.

Presently, the lot which will be developed by Ayala Land Inc. is being
occupied by several restaurants, food chain, the Freeport Service
Corporation, Landbank, a gas station, the night market, a gym and Comteq
Computer College.

 

For Ayala Land inquiries, call COCO MIDEL 0917 580 2013, or email at coco.ayala@gmail.com / midel.jerico@ayalalandinc.com.