ALI launches B mixed-use development project in Balintawak
Property giant Ayala Land, Inc. ( ALI) is investing 25 billion over the next 10 years for a mixed- use development in Balintawak, Quezon City called the Cloverleaf which will be the gateway to northern Metro Manila.
“Our vision is to create a pocket urban development. Cloverleaf will give people access to refreshing retail, business, lifestyle and residential possibilities— elements that create an ideal urban lifestyle,” said ALI senior vice president and Strategic Landbank Management Group head Meean Dy.
The 11- hectare Cloverleaf is set to rise beside the Balintawak public market and LRT 1 along EDSA and A. Bonifacio. It will also be just 200 meters from the ramp of the Skyway Stage 3 project.
“We always make it a point to locate where our products and services are easily accessible to more people,” noted Dy.
Cloverleaf will be developed in two phases of five years per phase. Phase 1 will involve the construction of 8 buildings at a cost of 15 billion while the second phase will have 7 buildings for an investment of 10 billion.
The first phase will include residential components, a 2.4 billion mall with 40,000 square meters of leasable space, additional retail space, and a 1.8 billion two tower 250- bed Qualimed hospital.
The residential component will consist of a three tower Avida land project with 744 units ranging from 25 sqm to 100 sqm per unit. The Alveo project will be launched in a third quarter and details are not yet available.
The second phase will entail the construction of office towers as well as additional residential projects and retail space.
To create synergy between ALI’s different product offerings, 34 percent of Cloverleaf will be assigned for residential purposes—including a 1.4- hectare Avida Towers compound with about 2,000 units and Alveo towers having a total of 600 units.
About 62 percent of Cloverleaf is envisioned to house retail and business developments, including the mall which will be positioned as a melting pot for Asian culture, offering gathering and dining concepts not only for residents of Balintawak, but also locals of Caloocan, Malabon, Novaliches, and Valenzuela. ( JAL)