MANILA, Philippines --- Ayala Land Inc. (ALI) has acquired through its subsidiary, Avida Land, a 6.6-hectare site of a former Nestlé coffee factory in Muntinlupa to further boost its expansion in the southern part of Metro Manila.
The property is less than 2-kilometers away from Muntinlupa's central business and commercial district and is envisioned to become another residential masterpiece with commercial and office leasing facilities.
ALI said the property will add to its roster of developments in the area which includes the 700-hectare Ayala Alabang Village, the 2-tower Avida Towers Alabang, and the newly expanded Alabang Town Center.
ALI has earmarked P8 billion for new land acquisitions this year. It aims to increase its presence further in various locations in the country.
"We are always on the look-out for opportunities that will allow us to grow geographically," said ALI chief finance officer Jaime E. Ysmael
He added that "this move allows us to offer our products to a bigger market and provide more Filipinos the ability to experience living in sustainable Ayala Land communities."
ALI intends to enter targeted growth areas in various parts of the country. It recently launched Harbor Point in the Subic Bay area to add to its initial northern Luzon offerings in Pampanga- Marquee Mall and Marquee Residences in Angeles, and Avida Residences in San Fernando.
Meanwhile, it continues to invest in the Southern part of Luzon to complement its 1,800 hectare NUVALI community which has now become a convergence point for many residents in the Sta. Rosa and Canlubang areas.
In the Visayas, it has announced new areas for development in Iloilo, Bacolod and Negros Occidental, and continues to further increase its presence in Cebu.
In Mindanao, the Company is currently constructing its Centrio development in Cagayan de Oro and further expanding its Abreeza development in Davao.
ALI has also announced new development projects in Metro Manila including its planned entertainment complex in what used to be the Sta. Ana Race Track.