Ayala Land starts development at SBMA

MANILA, Philippines - The City Government of Olongapo, the Subic Bay Metropolitan Authority, and Ayala Land Inc. formally entered into a Letter of Agreement on Dec. 9, 2009 to masterplan the seven-hectare Olongapo City Triangle bounded by Rizal Avenue and Magsaysay Drive near the Subic Bay Freeport Zone’s main gate.

Complementing Ayala Land’s forthcoming Subic mall development, this initiative aims to promote economic activity and improve the quality of life of the community through the development of a masterplan for an environment-friendly, integrated mixed-use district.

The said masterplan shall designate zones for residential, commercial, institutional, and socio-civic components with the end vision of transforming the Olongapo and Subic Corridor into a desired destination and center of economic growth in the region. The implementation of the masterplan will be undertaken jointly by the City Government of Olongapo and Subic Bay Metropolitan Authority.