AYALA LAND, Inc. (ALI) has broken ground for its 49th estate development, which it targets to turn into a center for trade and commerce in Plaridel, Bulacan.
The integrated mixed-use master-planned estate named Crossroads will sit in an 83-hectare lot in the province.
ALI put a P5.2-billion initial investment in the estate to develop the first 20 hectares into a commercial node that it plans to complete within five years.
The commercial area will be the first phase of development in Crossroads. It is expected to house quick-service restaurants, a supermarket, and restaurants.
“As we complete the planning for the residential [area], you can expect that our investment will increase,” ALI Project Development Head For Crossroads John R. Estacio said on the sidelines of the groundbreaking event on Thursday.
The residential segment of the estate is expected to be launched next year and will initially include ALI brands Alveo, Avida, and Amaia.
According to Mr. Estacio, ALI will kick-start the commercial node by building retail spaces to fill the need of the surrounding residential and industrial projects.
“Everything would come in phases, so the office could come at a later date,” Mr. Estacio said.
Commercial spaces will be sold at P75,000 per square meter (sq.m.) with the lots ranging from 300 sq.m. to over 1,000 sq.m.
Also included in the first phase of the development is the transportation hub, which is planned to link the estate to different areas.
“It is part of our program to bring more people here,” Mr. Estacio said, adding that aside from the private terminal, “we will also have a public transport terminal that will link the area to the province center and Quezon City.”
Crossroads is the second estate of the company in Bulacan after the master-planned Altaraza estate in San Jose Del Monte. It will be ALI’s final launch in 2022.
Bernard Vincent O. Dy, president and chief executive officer of ALI, said that the company is planning to launch more projects in the area.
“ALI is slightly underrepresented in terms of product offering in Bulacan, so we want to be able to do more in Bulacan,” Mr. Dy said.
“We want to bring something new to the area and enrich the lives of the people here in Plaridel,” he added. — Justine Irish D. Tabile