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Manila Bulletin devider Business devider Alveo launches P17-B commercial project

Alveo launches P17-B commercial project

Published Oct 17, 2019 12:00 am
By James A. Loyola Alveo Land, a subsidiary of property giant Ayala Land, Inc., has launched the P17-billion commercial portion of its new, 120-hectare master planned, mixed-use district in Laguna. Alveo Land logo (Photo courtesy of alveoland.com.ph/) Alveo Land logo (Photo courtesy of alveoland.com.ph/) The property, named Broadfield, is comprised of 80 hectares for commercial and mixed-use, and 40 hectares for residential subdivisions which have already been launched. Alveo Land Chief Operating Officer Rufino Gutierrez said Broadfield has allocated 36.6 hectares for commercial use for the first phase of the project with estimated total sales value of P17 billion. Tranche 1 has a total of 35 commercial lots ranging in size from 1,324 sq.m. to 2,915 sq.m, with an average list price of P185 million initially offered. Of the P6.8 billion lots for the first tranche, approximately P2.8 billion of worth have been sold on the first day of launch. “Broadfield’s location sets it at the heart of South Luzon’s thriving residential, leisure, industrial and manufacturing center. We have a well-designed master plan that applies the best practices of Ayala Land in property development. This district will be innovative, sustainable and progressive,” said Gutierrez. He said the target market for the commercial lots are companies planning to put up office facilities in Laguna as well local investors who may choose to lease these lots or put up office, commercial or residential buildings. Broadfield, just 4 kms. from Nuvali and 21 kms. from Alabang, will also be accessible from the South Luzon Expressway through the main roads of Governor’s Drive and the Sta. Rosa-Tagaytay Road. Accessibility will be further improved upon completion of the Cavite-Laguna Expressway and the planned Cavite-Tagaytay-Batangas Expressway. Broadfield will also be near the Laguna Technopark and the Laguna International Industrial Park. Other established commercial and retail options in the area are Nuvali’s Ayala Malls Solenad, Laguna Central Mall and Paseo Sta. Rosa outlets. As for educational institutions, Broadfield is adjacent to the De La Salle University Laguna campus, which is the site of the Shrine of St. John Baptist de La Salle. Alveo has also already developed two residential communities in Broadfield, namely Venido on the northwestern portion, and Aveia just across it. Venido is a 22-hectare residential community currently being constructed. Meantime, Aveia’s initial phases started turnover this year.
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