Ayala Land Inc. is initially investing P5.4 billion to develop a newly-launched mixed-use estate in Plaridel, Bulacan.
ALI president and chief executive Bernand Vincent Dy said during the ground breaking ceremony of Crossroads the project is part of the group’s strategy to aggressively expand in Central Luzon amid the rapid infrastructure development in the region.
“Crossroads is a 82-hectare mixed-use development. It is strategically situated in the progressive Bulacan to capture the fast-growing trade, commerce and residential base in the area,” Dy said.
ALI allotted 70 percent of the property for residential developments and the remaining 30 percent for commercial developments and open space.
The property firm plans to develop the initial 20-hectare commercial node in five years. It is selling commercial lots with sizes ranging from 300 to 1,000 square meters at P75,000 per sq. m.
It also plans to launch horizontal developments from residential brands Alveo, Avida and Amaia.
Crossroads is ALI’s 49th mixed-use estate and its second in Bulacan. Situated at the junction of Plaridel Bypass and Access Road, the estate is four-km. away from NLEX Balagtas Exit, making the development less than an hour from Quezon City and the cities of Angeles and San Fernando in Pampanga.
The new estate is also a 20-minute drive to Malolos City and the PNR Balagtas Station and potentially a 40-minute drive to the proposed New Manila International Airport in Bulakan, Bulacan which started land development.
“Over the last couple of years, investments both by the government through major infrastructure and the private sector, have undoubtedly pushed economic activity towards Central Luzon. Now with Crossroads, the estate’s central location will serve as a key gateway and the newest commercial node of Central Bulacan and the rest of the region’s growth corridor,” ALI estates group head Robert Lao said in his speech during the groundbreaking ceremony.
Dy said ALI would also soon launch another mixed-use estate in Plaridel, a fast-growing municipality that serves as a key gateway linking Metro Manila to other key centers like Cabanatuan, Nueva Ecija and Aurora.