By: Cassandra Lee, InterAksyon.com
InterAksyon.com means BUSINESS
MANILA – The first phase of a new business district at the former Food Terminal Inc (FTI) should be completed three years from now.
In a briefing, Stephen Comia, Ayala Land Inc (ALI) project development manager, said roadwork and infrastructure at the P80-billion ARCA South is 70 percent complete.
Envisioned to become the foremost central business district at the southern gateway to Metro Manila, ARCA South will be half commercial and half residential.
“First movers to ARCA South have a distinct advantage. Their foresight has led them to an area that will be driving unprecedented growth in the south,” Comia said, adding that land values have appreciated by 39 percent in less than a year.
Part of the first phase is Ayala Malls, the first two towers of the ARCA South Corporate Center, and the 265-room Seda Hotel. The Ayala Malls and ARCA South Corporate Center are scheduled for completion by 2017, while the Seda Hotel will open in 2018.
ALI is positioning the ARCA South Corporate Center as a business process outsourcing (BPO) hub.
For the residential component, ALI will offer projects across three brands: Ayala Land Premier, Alveo and Avida.
“They have allowed us to attract different markets to ARCA South by offering a wider range of residential projects. All three brands launched individual projects just last year. Across all three, we already have about 71 percent sales take up,” Comia said.
ARCA South will accessible to two government roadway projects, namely the Intermodal Transport System and the Skyway C5-C6 Connector Road.
“Aside from increasing access to ARCA South, these transport projects will also link the area to the Makati and BGC central business districts. This will be the center of urban revitalization like no other,” Comia said.