ALI revises plans for Cloverleaf dev't
Published Nov 23, 2018 12:00 am
By James A. Loyola
Real estate giant Ayala Land, Inc.(ALI) has revised its plans for its Cloverleaf mixed-use development in Balintawak, Quezon City in response to strong market reception for its residential and retail segments.
Ayala Land, Inc. | Manila Bulletin
Ayala Land Estates, Inc. Project Development Associate Paula Cagampan said they intend to open another mall and residential project under the second phase of the development while plans for a hospital may be shelved.
Cagampan said ALI is building another mall with a gross floor area of 40,000-50,000 square meters (sq.m.) in addition to the 39,000 sq.m. mall in the first phase of the development.
“Because of the success of the Phase 1 mall, we will have Ayala Malls phase 2. But unlike the first one, this is more targeted to the commuter sector, in Quezon City, because of the direct connection to the LRT,” said Cagampan.
She added that “this will be the Market!Market! of the north” in reference to Ayala’s mass market mall in Bonifacio Global City, Taguig. Cagampan said the two malls will be linked by a retail spaces along a promenade similar to BGC’s High Street.
The Ayala Malls Cloverleaf phase two is eyed for completion by 2022. Upon its completion, the mall component of the 11-hectare mixed-used development of Ayala Land of the same name — Cloverleaf — will be completed.
Ground-breaking was already done for the newest business district set to rise in Metro Manila, this time in capital’s gateway to Northern Luzon — Balintawak — as Manila’s property prospects look encouraging according to market observers.
Ayala Land earlier committed to spend P23 billion to develop Cloverleaf starting 2015 to put up a cluster of residential, office, and commercial developments at the junction of North Luzon Expressway (NLEx), and EDSA.
The property which formerly houses the industrial facility of Central Textile Mill, targets the populace around Quezon City, Kalookan City, and Valenzuela, particularly the Filipino-Chinese families, with Ayala Land’s Avida and Alveo brands putting up their respective projects.
The Ayala Land group has so far spent P15 billion for phase 1 with about 42 percent of the entire estate completed.
Ayala Land, Inc. | Manila Bulletin
Ayala Land Estates, Inc. Project Development Associate Paula Cagampan said they intend to open another mall and residential project under the second phase of the development while plans for a hospital may be shelved.
Cagampan said ALI is building another mall with a gross floor area of 40,000-50,000 square meters (sq.m.) in addition to the 39,000 sq.m. mall in the first phase of the development.
“Because of the success of the Phase 1 mall, we will have Ayala Malls phase 2. But unlike the first one, this is more targeted to the commuter sector, in Quezon City, because of the direct connection to the LRT,” said Cagampan.
She added that “this will be the Market!Market! of the north” in reference to Ayala’s mass market mall in Bonifacio Global City, Taguig. Cagampan said the two malls will be linked by a retail spaces along a promenade similar to BGC’s High Street.
The Ayala Malls Cloverleaf phase two is eyed for completion by 2022. Upon its completion, the mall component of the 11-hectare mixed-used development of Ayala Land of the same name — Cloverleaf — will be completed.
Ground-breaking was already done for the newest business district set to rise in Metro Manila, this time in capital’s gateway to Northern Luzon — Balintawak — as Manila’s property prospects look encouraging according to market observers.
Ayala Land earlier committed to spend P23 billion to develop Cloverleaf starting 2015 to put up a cluster of residential, office, and commercial developments at the junction of North Luzon Expressway (NLEx), and EDSA.
The property which formerly houses the industrial facility of Central Textile Mill, targets the populace around Quezon City, Kalookan City, and Valenzuela, particularly the Filipino-Chinese families, with Ayala Land’s Avida and Alveo brands putting up their respective projects.
The Ayala Land group has so far spent P15 billion for phase 1 with about 42 percent of the entire estate completed.