Ayala Land to spend P5.2B to develop Bulacan project

Ayala Land Inc. on Thursday said it will spend some P5.2 billion to jumpstart the development of its 49th estate and second venture in Bulacan dubbed Crossroads.

The amount will be used for the land development of the commercial area of around 20 hectares in Plaridel, Bulacan, the company said.

“Crossroads will be the first integrated commercial and lifestyle district by Ayala Land to cater to the growing needs of the industries and the communities within and around. Our vision is to open up new investments, new commercial developments that can provide convenience and opportunities for all,” Bernard Vincent O. Dy, the company’s president and CEO, said during the project’s groundbreaking ceremony.

Crossroads, an 83-hectare property, is being developed as a mixed-use master-planned development that will have a retail, office and residential component. The company seeks to take advantage of the area as a key gateway linking Metro Manila to other key centers like Cabanatuan, Nueva Ecija and Aurora.

John R. Estacio, Ayala Land assistant vice president and Crossroads project manager, said the initial capital expenditure will be spent to develop the road network, and land development for the commercial side of the property that comprises 20 percent of the whole area.

The planned P5.2 billion spending will be spent in the next five years.

“As we complete the plan for the residential, you will expect our spending to increase,” Estacio said.

Ayala Land has also started selling lots in its commercial area, with lots ranging between 300 square meters to 1,000 square meters at a price of P75,000 per square meter.

Estacio said Ayala is also in talks with a big quick-service restaurant brand to set up shop in the estate.

Situated at the junction of the Plaridel Bypass and Access Road, the estate is four kilometers away from NLEX Balagtas Exit, making the development less than an hour away from Quezon City and the cities of Angeles and San Fernando in Pampanga.  Crossroads is also a 20-minute drive to Malolos City and the PNR Balagtas Station, and potentially a 40-minute drive to the proposed New Manila International Airport in Bulakan, Bulacan which has started land development.

“Over the last couple of years, investments both by the government thru major infrastructure and the private sector, have undoubtedly pushed economic activity towards Central Luzon. Now with Crossroads, the estate’s central location will serve as a key gateway and the newest commercial node of Central Bulacan and the rest of the region’s growth corridor,” Robert Lao, Ayala Land Estates group head, said.

Source: https://businessmirror.com.ph/2022/12/16/ayala-land-to-spend-%E2%82%A75-2bto-develop-bulacan-project/