Friday, June 19, 2015

Phase 1 of Arca South now 70% complete


The Food Terminal Incorporated Complex – known, colloquially, as "FTI" – will soon re-emerge as a glitzy new township by the biggest developer in the country.

Ayala Land Inc. (ALI) has claimed and renamed the industrial estate "Arca South," tagged as a "City in Sync." Formerly a plot of government land turned into a sprawling market, the complex – 74 hectares of which was sold to ALI – will rise along East Service Road in Taguig City, close to CBD heavyweights Makati City and Bonifacio Global City.

"The new business and lifestyle district is within a 7-km. radius of the Makati Central Business District, Bonifacio Global City and the Ninoy Aquino International Airport," issued Stephen Comia, ALI's project development manager. Arca's "close proximity to these sites will be further improved by upcoming government transport projects such as the Intermodal Transport System (ITS) and the Skyway C5-C6 road connector project," according to Comia, who cited that commercial land appreciated by 39 percent when the project was launched in 2013.

Arca South is slated for a slew of residential and commercial projects, among them condominiums, a corporate center, a mall, a hospital, and a hotel. Phase 1 – costing P80 billion in total – is already 70 percent complete, said Comia during a press briefing.

Up to 40 percent of Arca South will be relegated to open spaces, which include roads, bike lanes, and green areas measuring 50 meters wide. Meanwhile, the rest of the land area will be split 50-50 between its residential and commercial components.

ALI's subsidiaries Avida, Alveo, and Ayala Land Premier – brands that each serve a different segment of the market – broke ground on their condominium projects in Arca's residential zone in 2014. The commercial segment, meanwhile, will be home to Ayala Malls Arca South, the Arca South Corporate Center, a Qualimed Hospital, and a Seda Hotel in the coming years.

Arca South is expected to have 60,000 residents; as a business district, it is estimated to be able to boast of up to 400,000 office workers, according to ALI.


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