MANILA, March 26 (PNA) — Property giant Ayala Land Inc. (ALI) is investing Php 6.8 billion over the next five years to build its first township project in San Jose Del Monte (SJDM), Bulacan, as it expands north of Metro Manila.
ALI already broke ground for Avida Settings, Amaia Steps and health care facility QualiMed which are three of the property components in Altaraza, its 98-hectare mixed-use development.
“Altaraza, the first masterplanned township in the area, is envisioned to provide a convenient, organized and modern residential and commercial experience to a broad progressive market,” it said.
Avida Settings is the first house and lot residential subdivision in Altaraza Town Center.
Strategically located along Quirino Avenue corner Tungkong Mangga, Amaia Steps is the first condominium residential project in the area.
The whole community will also be provided with a state-of-the-art, 100-bed health care facility and services through the QualiMed hospital.
In addition, a total of 50 commercial lots are also expected to boost business and economic activities while ensuring the development’s sustainable features through open spaces, with a planned 7,800-square-meter Central Plaza and a five-hectare Rain Garden that will function as a detention pond.
ALI President Antonino Aquino told reporters that Altaraza is a joint venture undertaking with Araza Resources Corp.
“We purchased the land. The property is quite large so some parts (of the project have) a mix of partnership agreements,” he said.
After the success of its mixed-use development projects in Metro Manila, Aquino said ALI is now going further north.
He said the province of Bulacan is expected to benefit from major infrastructure projects of the government.
“We see big gap that still exists… The fundamentals continue to be strong,” he added. (PNA)