Monday, September 7, 2015

Ayala Land's Cavite project to cost P70-B


Seven hundred hectares of prime land in Cavite has been earmarked for a new township by the name of "Vermosa." Ayala Land Inc. (ALI) has allotted P70 billion for the development, which should take 12 to 15 years to complete.

Vermosa ranks as the property giant’s fourth largest estate. The masterplan consists of 60 percent residential, 20 percent commercial, and 20 percent institutional and open spaces, much like Bonifacio Global City, NUVALI, and Makati's Central Business District, ALI's signature developments. Vermosa itself will have a central business district spanning 124 hectares, a site for forthcoming office and retail establishments, schools, hospitals, hotels, and a church. Retail centers are a short 10-minute walk or bike ride from residential enclaves.

But what sets this township apart, according to ALI, is its high-grade amenities for athletic pursuits. The upcoming Vermosa Sports & Lifestyle Complex (VSLC) will be home to a 400-meter track and field, an Olympic-sized pool, a motocross track, the country's first purpose-built mountain bike skills track, and a premier sports science laboratory, all set to launch by the end of 2016.

"Building large-scale, mixed-use developments that are strategically located in the country's emerging growth centers will continue to be our focus," stated Bernard Vincent Dy, president and CEO of the property giant.

Vermosa has upcoming residential projects by ALI's subsidiaries, Alveo and Avida. Ayala Land Premier, the conglomerate's upmarket brand, is currently selling units from their residential development The Courtyards.


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