Ayala Land allots P60B for 6 zones

Posted at 06/23/12 8:15 AM

MANILA, Philippines - Ayala Land is investing P60 billion in the next five years for developments in six zones.

These include new developments in the Ayala Triangle Gardens, Makati Central Business District (MCBD), Makati north, Makati south and Sta. Ana.

“There is a clamor for a progressive city like Makati. A progressive city is where you will find the most efficient pedestrian and infrastructure system and responsive local government service,” said Ayala Land president and CEO Antonio Aquino during the launch of the “Make it Happen, Make it Makati” campaign yesterday.

The developments include the construction of hotels, residential buildings and business process outsourcing (BPO) buildings in the Glorietta area. These include an additional four levels of retail space in Glorietta 1 and 2, and two new BPO buildings that would complement the BPO spaces in Glorietta 5.

Also to rise in the area are the new Park Terraces, Raffles Residence, Holiday Inn and Fairmont Hotel.

Ayala Land is pouring in P20 billion of the total investments to the development of an entertainment complex in Sta. Ana.

The entertainment complex will be built on the 20-hectare land where the former Sta. Ana Race Track was located. Construction in the property will begin on the second half of the year.

The Makati Commercial Estate Association Inc. (MACEA), which is composed of 386 members, will invest P1 billion to roll out articulated buses that will traverse EDSA Ayala, Ayala Avenue, Buendia and Taft.

MACEA president David Balangue said there is still no time table for the project because permits ate still being obtained from the Department of Transportation and Communication (DOTC).