Ayala Land Inc. on Tuesday said it expects to rake in an initial P15 billion in sales from its P75-billion project in Porac, Pampanga, where the company plans to establish a new integrated town in an area once ravaged by lahar.
The company said in a briefing that the first phase of its 1,100- hectare Alviera township project will be completed by 2016.
Ayala Land said it will be spending some P7.5 billion for the first phase, or a mere 10 percent of the total cost of the project, which will run for the next two decades.
According to Ayala Land President Bernard Vincent Dy, the initial phase will cover some 207 to 220 hectares. By 2016, it will already have facilities, residential areas, a country club, a transport terminal and some retail shops.
“We need the critical mass to jump-start the area,” said Dy in a briefing with reporters.
The Alviera project is a 55-45 joint-venture between Ayala Land and the Leonio family’s Leonio Land Holdings Inc.
The second phase, which will run through 2022, will feature the continuation of residential development; completion of the retail center; commercial lots, such as the industrial park; and school operations of Holy Angel University and Quezon City-based Miriam College.
Some of the residential brands that the development will carry include Ayala Land Premier (ALP), the developer for the upscale market; Alveo Land Inc. and Avida Land Inc., Dy said.
Some 500 units covering 103 hectares of land will be allotted for the ALP brand, as the company is creating a Forbes Subdivision-like development in Central Luzon, with lot cuts of about 1,000 square meters per unit. Some 600 units will be available for Alveo Subdivision, which will have a total area of 30 hectares, while the Avida Subdivision will have 535 units in its total allocation of 16 hectares.
“Alveo will cater to the upwardly mobile young families with lots right beside a school; and Avida Land will offer highly affordable house-and-lot packages,” the company said.
All units will be available for sale by November.
Ayala Land’s goal is to create the next hub in Central Luzon, with the potential to service 65,000 residents, 20,000 workers and 20,000 students once the property is completely developed in 20 years.
“With Ayala Land’s rich legacy in developing integrated mixed-use communities, Porac will be transformed to a master-planned township unlike any other in the province and in the whole of Central Luzon,” said Anna Ma. Margarita Dy, Ayala Land Strategic Landbank Management Group head.
Alviera is allocating some 10 hectares to the Pampanga-based Holy Angel University, while Miriam College will have a total of 9.5 hectares for its third site in Luzon.
Instead of having office spaces, Alviera is allocating 31 hectares for an industrial park, with the initial phase offering some 16 lots at 1 hectare to 1.5 hectares per cut to locators.
Porac is within 35 kilometers away from the former United States bases in Clarkfield, Pampanga, and Subic Bay Freeport, which has a 600,000-twenty foot equivalent unit container port. The industrial park will include standard factory buildings in customizable sizes for lease. “Local manufacturers with export product have already shown interest. Korean and Taiwanese manufacturers are also being attracted as locators,” the company said.