Ayala Land earmarks P3B for Laguna project this year

April 09, 2010 20:04:00

Doris Dumlao

Philippine Daily Inquirer

SOURCE:

http://www.inquirer.net/propertyguide/buildingblocks/view.php?db=1&article=20100409-263288&pageID=2

THE AYALA GROUP IS SPENDING up to P3 billion this year to step up the development of its sprawling mixed-use, eco-community Nuvali in Laguna.

In an interview, Ayala Land Inc. vice president Aniceto Bisnar Jr. said the P2.5-P3 billion capital spending would go to the infrastructure development of the whole of Nuvali as well as the commercial business district. By the end of this year, he said 30 percent of the 1,840-hectare development that spans the cities of Sta. Rosa and Calamba—which is about twice the size of the Makati central business district—would have been developed.

Bisnar said the second phase of Lakeside Evozone commercial area was now being developed. By the end of this year, he said 39 commercial lots of 2,000-sq. m cuts would be made available, similar to the lot cuts in Fort Bonifacio Global City and ideal for business process outsourcing offices (BPOs), hospitals and hotels. Lakeside Evozone South (Phase 2) is a 17-hectare commercial/office development.

The first phase of Lake Evozone, on the other hand, was meant for Philippine Economic Zone Authority-registered industrial locators.

“We are achieving critical mass in a shorter period of time, so hopefully the next locators will be hotels and hospitals,” Bisnar said.

The first building in Lakeside Evozone is One Evotech, which is 80-percent occupied and currently houses Convergys’ 600 BPO employees. Bisnar said the second BPO building was now under construction.

Since the area is close to Metro Manila, there is no shortage of well-educated workforce for hiring by BPO locators in the area, he noted.

The capital spending budget for this year excludes the cost of the new BPO building and the development of new retail space by ALI, Bisnar said.

The group plans to add 10,000 square meters of retail space to the 3,000-sq. m retail center Solenad, which features al fresco lakeside dining.

The residential areas of Nuvali are likewise selling well, Bisnar said, prompting various Ayala Land subsidiaries catering to different market segments to step up their development.

“People are being attracted by the new way of life in Nuvali. It is environmentally sustainable,” Bisnar said.

After Xavier School recently broke ground in Nuvali, he said the group was now in talks with two major colleges, which were considering to put up campuses in the area.

For outdoor enthusiasts, a man-made wakeboarding facility and a new 50-kilometer mountain bike trail will soon also rise in Nuvali.

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For Nuvali inquiries:

COCO MIDEL

Ayala Land Premier

Mobile +63-917-50-29252 (+63-917-50-AYALA)

Email midel.jerico@ayalaland.com.ph / coco.ayala@gmail.com