Saturday, May 05, 2007 Ayala project construction to start soon
THE Ayala Land Corporation, developer of the country's high-end subdivisions, will start anytime soon the development of its 350-hectare property in the mountains of Camaman-an and Indahag, Cagayan de Oro City.
Mayor Vicente Emano said this after he approved the locational clearance of Ayala Land, which is a pre-requisite to the granting of a development certificate.
Emano said that after the Ayala Land Corporation shall have processed its development certificate, the company can already start to implement its development plan.
Ayala is set to pour an initial investment of P4 billion to develop 80 hectares of the entire property and will continue to develop the remaining 270 hectares in the succeeding years.
The company's technical team is now in the city to hasten the processing of all necessary permits so construction can immediately begin.
Ayala Land will develop in their property several villages that include residential units, sports facility, pocket park, watershed treatment facility, chapel, ravine orchards, promontory point, canyon trails and a central park.
Emano said Ayala Land's presence in the city will certainly boost the city's economy and will help employ thousands of Cagayanons who will be given priority in the hiring of employees in all investments that will be established here. (CIO)
