Ayala Land set to invest P75B project in Pampanga

By , on September 24, 2014


Pampanga
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MANILA — In a bid to lure manufacturers and homeowners in the northern part of Luzon, property developer Ayala Land Inc. (ALI) will invest P75 billion to develop a new community in Porac, Pampanga.

On Tuesday, officials from ALI said that the investment involves a 1,100-hectare project in partnership with Leonio clan. The project, which will take 20 years to complete, will be made up of residential communities, industrial parks, schools, and recreational facilities.

According to Ayala Land CEO Bernard “Bobby” Dy, the project which will be called Alviera will serve as an extension of the company’s success in terms of developing other large-scale communities. It will replicate their previous projects like Nuvali in Laguna.

The size of the property will “allow us to do what we do best,” said Dy.

The project will also give way to 20,000 new employees and homes for 65,000 people, according to Ayala Land vice president Anna Margarita Dy.

The first phase of Alviera is set to happen this month which will involve more than 200 hectares or the project. This will be take about three-years to develop with an estimated P8 billion as initial investment.

Ayala Land added that the Alviera Industrial Park, a 30-hectare project registered with the Philippine Economic Zone Authority, has already captured the interest of Korean and Taiwanese manufacturers.

There will be three new brands in the project which include the new “Forbes Park,” Alveo Land, and Avida Land. Aside from this, two schools will be part of Alviera and these are Holy Angel University and Miriam College.