Ayala Land Inc. on Tuesday said it is expanding its Alviera development in Porac, Pampanga, and will spend an additional P10 billion for its leisure and wellness facilities.
The project, jointly developed by Ayala Land and Leonio Land Holdings Inc., has raised its investment to P100 billion, from the previous P90 billion.
John H. Estacio, Alviera general manager, said the property will now be at 1,800 hectares from the previous 1,100 hectares.
“Some 300 hectares we bought from the Puyat family and the rest came from our partners [Leonio Land],” Estacio said.
The estate’s latest addition toward leisure development started with its recent signing with De La Salle Philippines to develop the 23-hectare La Salle Botanical Gardens.
Envisioned as a world-class botanical garden with a collection of at least 25 themed garden patches, the project draws inspiration from gardens, such the Jardin Botanique de Lyon in France and the Kew Royal Botanic Gardens in London. The project will also house a full-scale laboratory, a plant nursery, greenhouses and libraries.
As a result of the rapid 95-percent sales take-up of the first phase of the Alviera Industrial Park with 16 industrial lots, the estate is expected to launch a second phase, covering 32 hectares.
The first phase was mainly for the Philippine Economic Zone Authority (Peza) locators, while phase two will be for non-Peza tenants.
“In our experience, three out of the five companies that inquired about locating in our industrial park are non-Peza locators,” Estacio said.
Non-Peza refers to those firms whose products are for local consumption.
The non-Peza industrial park was designed for light to medium nonpolluting industries.
Alviera’s initial residential offering through its two residential brands, Alveo Land and Avida Land, has sold 74 percent of its total phase one inventory.
These residential projects have seen values appreciate by 20 percent in the past two years as the estate continues to
rise, Estacio said.
As for Ayala Land Premier, the luxury developer will soon launch a residential subdivision steeped in the estate’s natural green spaces and will sit beside the Alviera Country Club slated to open in the fourth quarter of 2018.
The turnover of the phase one residential units and industrial lots will be complemented with the completion of the roadworks and utilities toward the end of the year.
New opportunities for investment and business will be made available with the Alviera East Commercial, a 7-hectare commercial hub situated next to an institution, the industrial park and the 180-hectare residential communities.
The company is also selling its country club, which will sit on a 7-hectare property. Shares are currently being sold at more than half-a-million pesos for one share.
The company said it is only selling some 3,000 shares, or just half of the comparable
country clubs.