Published 5:03 AM, Apr 23, 2014 | Updated 11:34 AM, Apr 23, 2014
EXPANSION. The Ayala group is spending billions of pesos to grow its core businesses, mainly real estate, this year
MANILA, Philippines – Property giant Ayala Land Inc. is investing P80 billion for a new central business district (CBD) it is developing over the next 5 years.
Ayala Land unveiled its master plan for the 74-hectare ARCA South, the former Food Terminal Inc. property located near the southern ends of major thoroughfares EDSA and C5, right along the South Luzon Expressway.
The investment to transform the property from a collection of old warehouses into a mixed-use commercial development will be phased over a 5-year period.
The project will comprise of residential communities, retail centers, office buildings and other establishments such as a hotel and a hospital, as well as recreational green spaces.
ARCA South is located about 6 kilometers from Makati and Bonifacio Global City (BGC), both premier CBD developments undertaken by Ayala Land.
“We envision ARCA South to become an entrance to Metro Manila for those coming from the south – via SLEX from Alabang, NUVALI, Cavite, or even for those using the RORO [roll on – roll off] ships from as far South as Mindanao,” said Meean Dy, Ayala Land vice president and Strategic Landbank Management Group head.
Further improving accessibility is the government’s Southeast Intermodal Transport System (ITS) project which is expected to accommodate an estimated 4,000 buses and 200,000 commuters a day.
The terminal, a Public-Private Partnership, will be a central station for all provincial buses carrying passengers to and from Laguna, Batangas, Quezon and Bicol. The Skyway and C5/C6 connector road project will include access ramps to ARCA South as well as separate ramps going to the Southeast ITS.
Meanwhile, the Ninoy Aquino International Airport is only 10 minutes away from the development.
“As is typical for an Ayala Land development, the heart of the city will be a highly ‘pedestrianized’ center,” added Dy.
Commercial, residential projects
ARCA South will feature 3 distinct retail areas: its own version of Bonifacio High Street, a lifestyle mall with upscale stores, and a transit-oriented mall that will be linked to the Southeast ITS.
Nine office towers will be launched within the next 5 years, with 2 out of the 9 towers expected to be operational by 2017.
A 250-bed QualiMed hospital offering highly specialized medical treatment will also be built.
Meanwhile, 3 of Ayala Land’s residential brands – Ayala Land Premier, Alveo and Avida – will have offerings in ARCA South.
One project, Arbor Lanes, will offer 13 to 15-storey luxury condominiums in a sprawling garden community. Units will be sold for P10.6 million and above. Turnover will begin in the first quarter of 2018.
Upon completion, ARCA South will comfortably accommodate as many as 60,000 residents and 400,000 office workers. – Rappler.com