ALI plans unique develop in ABS-CBN property

MANILA, Philippines —  Property giant Ayala Land Inc. (ALI) is promising to develop something unique in the property in Quezon City, which the company has purchased from ABS-CBN Corp.

ALI president and CEO Anna Ma. Margarita Bautista-Dy said the P6.24-billion purchase of the 30,000 square-meter ABS-CBN property is considered as a strategic acquisition for the company given its location.

“With ABS-CBN, we did come to agreement on the acquisition of the property. We would like to make something unique in that area. Given you know, it’s quite the busy area, and there are a few other developments there,” she said

Dy said  the project is currently under planning and ALI still does not have a specific timeline for it.

ALI earlier said that it s looking to transform the property into a mixed-use project.

Similar to the ABS-CBN property, Dy said ALI would continue to make strategic purchases in areas where the company still does not have enough inventory.

ALI signed in February a memorandum of agreement for the acquisition of a portion of ABS-CBN  property in Quezon City, subject to conditions precedent, including clearance by the Philippine Competition Commission, among others.

The sale covers 30,000 square meters out of the total 44,027.30 square meters of the property which serves as ABS-CBN’s headquarters.

The property houses several buildings including production facilities.

Meanwhile, ALI is also preparing to launch a new premium project in Makati called Laurean.

“With the very warm reception of Park Villas, we look forward to another project in the Makati central business district. It will be cut from the same cloth as Park Villas but with more varied unit mix,” Dy said

Park Villas, a project being undertaken by Ayala Land Premier, is an exclusive residential property strategically located across Ayala Triangle Gardens.

Dy said that Laurean is envisioned to be an urban sanctuary in Makati, serving as an oasis amid the city’s hustle and bustle.

“More than half a hectare will be dedicated to resort like amenities, wellness facilities and lounge areas. It will be among the first of Ayala Land Premier’s next generation of products to once again set new standards of quality in the country,” Dy said.

“We will continue with the deliberate approach of launching strong market segments, introducing new formats and elevating the quality of our products,” she said.