Ayala Land investing P5.4b in Plaridel mixed-used project
THE Department of Trade and Industry appointed Undersecretary Rafaelita Aldaba as the steward of the Philippine Economic Zone Authority.
Trade Secretary Alfredo Pascual issued a department order appointing Aldaba to PEZA on Dec. 14, 2022, after confirming his authority to appoint as head of the DTI based on Administrative Code of 1987.
A part of Aldaba’s job at the PEZA is to oversee the smooth implementation of policies and ensure proper coordination of programs. Aldaba’s appointment will remain valid until an appointment by the President is made or amended, modified, or revoked.
Acting PEZA director-general Tereso Panga assured registered business enterprises, including economic zone developers that the operations, transactions and applications in PEZA are unhampered by recent developments.
“We will continue with the mandate and in attracting more investments. We shall continue to make sound and balanced policy decisions under the leadership of the new OIC,” he said.
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.