Written by Tribune Wires
ARCA South, the P80 billion property investment of Ayala Land, Inc. (ALI), is on schedule for phase one completion.
Phase one development includes roadwork, utilities and other infrastructure, which are now 70 percent complete.
This part of the development is expected to be completed by the end of the year.
Located at the former Food Terminal Inc. complex, ARCA South is envisioned to be a mixed-use central business district in proximity to Makati and Bonifacio Global City, serving as a southern gateway to Metro Manila.
ARCA South will have a 50-50 commercial and residential mix.
Commercial lots with an average of 2,500 sqm cut have been sold out across the estate. The commercial block is situated along the main ARCA Boulevard that is strategically connected to the proposed Skyway-C5/C6 connector road.
“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. Land values appreciated by 39 percent in less than a year,” said Stephen Comia, ALI Project Development manager.
The first tranche of commercial activity will be kicked off by the Ayala Malls, the first two towers of the ARCA South Corporate Center, and the 265-room Seda Hotel ARCA South.
All three components have ongoing excavation works and will be completed by 2018.
The Ayala Malls will be a four-level structure and will have around 350 stores plus a supermarket, department store and four cinemas.
ARCA South Corporate Center will offer 24/7 tenant operations and access to major transportation channels, making it ideal for BPOs.
The buildings will have about eight floors which rise from the retail component in the lower level.
Residential options in ARCA South come with the presence of all three Ayala residential brands, namely 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 added.
ARCA South will be the main beneficiary of two government roadway projects in the near future that will further increase accessibility to the estate.
The Intermodal Transport System, a world-class bus terminal system that will accommodate as much as 4,000 buses and 200,000 commuters, is in the bidding process.
The Skyway C5-C6 connector project that will provide one other exit to Makati is currently undergoing engineering design.
“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,” said Comia.