Property developer Ayala Land Inc. will
spend no less than P90 billion for its 1,100-hectare Alviera mixed-use township
in Porac, Pampanga, up from the initial target of P75 billion.
According to Alviera general manager
John Estacio, the capital spending for Alviera was increased by P15 billion
after the company tweaked the master-plan including the facilities,
infrastructure and services needed in the development of the property.
Estacio said the company will put up
another 15-megavolt ampere power facility in preparation for the ramp-up of
developments in the property.
Phase 1 of the Alviera development
involves 207 hectares. This will include an industrial park, a country club,
two academic institutions and three Ayala Land residential communities.
Capital spending for phase 1 is
estimated to reach P7.3 billion.
All 16 industrial lots for sale have
already been taken up, while three clusters of ready-built, standard factory
buildings for lease are currently being offered to small to medium
enterprises.
The SFB floor area totals 20,000 square
meters, which is available for lease with rental rate starting at P150,000 to
200,000 per square meter per month.
Initial locators at the Philippine
Economic Zone Authority-accredited park are engaged in food manufacturing,
plastic packaging, motorcycle parts and electronics industries. The first group
of locators will commence operation by January 2017.
About 1,500 residential units are set
for launching under phase 1.
Avida, Ayala Land’s residential brand
for the middle-income market, recently launched its first project in the estate
called Avida Settings Alviera located across the future city center.
About 85 percent of the project has been taken up.
Alveo Land’s residential project is also
set to launch its project in Alviera next month.
Alviera has started selling shares in
the planned Alviera Country Club priced at P580,000 for individual shares and
P950,000 for corporate shares.
The Alviera Country Club will be managed
by the same group behind Anvaya Cove and South Links Golf Club, Ayala Club
Management Inc.
The Alviera Country Club will feature a
number of world-class facilities over a six-hectare area. The first-of-
its-kind development in Pampanga has a project cost of P1 billion and is
targeted for completion in 2018.
Estacio said that following the success
of Ayala Land in developing large-scale master-planned mixed communities like
Makati, Bonifacio Global City and Nuvali, "we envision a bright future
ahead in our newest venture in the north.”
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Image
by alviera.ph
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