Property developer Ayala Land Inc. is infusing an additional P10 billion in investment to unlock another 300 hectares of land within Alviera, its 1,700-hectare mixed-use estate in Porac, Pampanga.
Alviera estate manager Melanie Eugenio Trivino said ALI is developing additional land within the estate as a result of the brisk sales across its property offerings.
The additional 300 hectares, which will be developed over the next three to five years, will further expand Alviera’s residential, commercial, and leisure offerings.
Trivino said ALI initially invested P10 billion to develop 430 hectares of land offering residential, commercial lots, and industrial parks to customers as well as support infrastructure and utilities.
Since Alviera was launched in 2014, ALI has sold over 5,000 residential units across nine villages. Four villages have been turned over to buyers and about 150 houses have been built while some are under construction.
It also has three operating industrial parks with 10 incoming locators in 2023.
An upcoming development within the property is the 10-hectare Miriam College Building. Its first building is slated for completion by the end of 2023 in time for face-to-face classes and activities for basic education and professional programs for the school year 2024 to 2025.
The first phase of La Salle Botanical Gardens is also slated for completion by 2024.
ALI also recently launched A-Block commercial hub, which is the second commercial district within the estate’s central business district.
Trivino said ALI will be selling commercial lots in A-Block with lot sizes ranging from 1,500 to 2,000 square meters costing P17,000 per sq.m.
The commercial lots are an ideal investment opportunity for businesses seeking to tap into the bustling Central Luzon market and position their businesses in the fast-growing region, Trivino said.
Alviera’s first commercial hub, the seven-hectare East Commercial Center is now 80 percent sold with the initial investors enjoying a 10 percent compounded annual growth rate in terms of land value.
Alviera is a joint venture between ALI and Leonio Land.
