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Thursday, January 15, 2004
Ayala Land puts up ‘next Makati City,’ seeks locators
By Jessica B. Natad
ONE of the country’s premier property developers, Ayala Land Inc. (ALI), is now inviting investors to locate inside the country’s next business district—Bonifacio Global City.
Marlon Dennis Loyola, sales manager of Ayala Land Sales Inc. (Alsi), said ALI is now the majority shareholder of the city’s developer, Fort Bonifacio Development Corp. ALI is also the manager of the project dubbed as the “next Makati City.”
“The Bonifacio Global City is envisioned as the most modern and fully master-planned business district in the country. Designed for regional and international interaction, sustained economic development and a superior quality of life, it will host a premium residential complex and complete commercial and recreational facilities,” he said.
Loyola said lots inside the Bonifacio Global City are now sold at from P50 million to P100 million per lot cut.
The horizontal development, including the road networks and telecommunication lines, is finished.
It has so far attracted a Japanese school, an international school and other exclusive schools. Soon a “world-class hospital and ALI’s first non high-end mall will be seen inside Bonifacio Global City, Loyola said.
He said in the next three to five years, more buildings for office spaces, retail shops and restaurants will be in the area.
Loyola said the stiff competition in the real estate industry and the difficult economic conditions pushed ALI to do aggressive marketing through Alsi, its wholly owned marketing arm.
“Before (the crisis), people lined up to buy Ayala projects. But now, no more. So we have to ... go to our market,” he said.
ALI’s non high-end malls are also designed for ALI to broaden its market reach.
Cebu Holdings Inc. (CHI) president Rene Almendras earlier said Ayala’s non high-end malls will be like the Tutuban malls. CHI is ALI’s affiliate in Cebu.
(January 15, 2004 issue)
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