MANILA, Philippines – Property giant Ayala Land Inc. is plowing P12.5 billion into the development of its 1,860-hectare “eco” city in Sta. Rosa, Laguna over the next five years.
This, as the company expects “Nuvali” to contribute significantly to its revenues in the future, said Ayala Land vice president and Nuvali general manager Jun Bisnar.
Last year, Nuvali generated P3 billion in revenues, primarily from the sale of residential lots. So far, Ayala Land has invested P8.8 billion in the mixed-used project, its first and largest master-planned eco community.
To transform Nuvali into the next regional center south of Metro Manila, Bisnar said Ayala Land has lined up several residential, hotel, commercial and office developments in it.
The property firm will launch housing projects under its three brands — Ayala Land Premier, Alveo Land and Amaia.
Likewise, the company is also expanding the retail segment of Nuvali to add a 10,000-square meter commercial complex called Solenad 2.
A hotel called Kukun, which will cater to businessmen and leisure travelers, is also currently being constructed. The hotel will have 150 rooms, of which 129 will be standard, and 21 will be suites. It is slated for completion by the last quarter of 2013.
Other developments in the pipeline will be recreational, including wildlife and bird sanctuary, bike trails, an events place and a wake park.
According to Bisnar, Ayala Land has so far developed 45% or about 845 hectares of Nuvali’s total land area.
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LCD Manila 