Ayala Land invests P70B in Cavite mega dev't
MANILA, Philippines – Ayala Land, Incorporated (ALI) is investing P70 billion ($1.50 billion) in its newest and third biggest estate, Vermosa, a 700-hectare integrated, mixed-use development in Metro South.
A 124-hectare area in Vermosa is allocated for a future central business district that will house various business and commercial establishments, hotels, shopping, entertainment, dining, and medium- to high-density residential developments. Schools will also be built within the property.
A total of 165 hectares or 24% of the entire development will be devoted to parks and gardens. It features a 14-kilometer greenway, a landscaped promenade stretching north to south of the project.
At full development, Vermosa, located in Dasmariñas and Imus, Cavite, will have 30,000 residents and about half a million workers.
To reduce reliance on private vehicles, the master plan ensures that neighborhood retail centers are accessible within a 10-minute walk or bike ride from any residential development within the project.
Vermosa will also be accessible through the newly-opened Muntinlupa-Cavite Expressway (MCX), the government's first public-private partnership (PPP) project bagged by the Ayala conglomerate.
MCX tollway connects the Daang Hari Road to the South Luzon Expressway and shortens the travel time to Cavite by 30%. This will cut travel between Vermosa and Makati to 55 minutes during peak hours.
Vermosa is shaping up to be the next big real estate project south of Alabang, taking inspiration from Ayala's other established estates such as Bonifacio Global City and Nuvali.
"Building large scale mixed-use developments that are strategically located in the country's emerging growth centers will continue to be our focus. Our residential brands continue to introduce new offerings within our estates," said ALI President and CEO Bernard Vincent Dy.
Toward healthy lifestyle
The multi-billion project is ALI’s first mixed-use development that will focus on Filipinos’ increasing active and healthy lifestyle. Its special feature, the Vermosa Sports & Lifestyle Complex (VSLC), aims to integrate a healthy and active lifestyle with everyday living.
There will also be the VSLC sports science laboratory, the first of its kind in the country, and will primarily cater to the growing triathlon market and related sports such as marathon, swimming, and cycling. It will have an Olympic-size pool and a 400-meter track and field . VSLC will also have a motocross track and the first purpose-built mountain bike skills track in the Philippines.
A 10,000-square-meter sports-themed retail that will feature various athletic and sport shops as well as array of healthy dining options will also be included.
The sports science lab is targeted to be opened in the fourth quarter of 2016, and will also offer facilities to athletes and fitness enthusiasts to raise the level of their performance using a scientific and technology-based approach.
All these amenities will be managed by industry professionals and is open to the public, ALI said.
The mega development is set for completion in the next 12 to 15 years. – Rappler.com
$1 = P46.75