ALI investing P3.8 B for Mindanao project

Ayala Land Inc. (ALI), the property giant of conglomerate Ayala Corp., is pouring in P3.8 billion as its initial investment for Habini Bay, a new masterplanned development in Mindanao.

The 526-hectare Habini Bay will be located within the municipalities of Alubijid and Laguindingan in Misamis Oriental.

Habini Bay’s masterplan will be anchored by an industrial park to be managed by Laguna Technopark Inc. (LTI), the country’s foremost industrial estate developer which brought in the world’s leading manufacturers of electronics, automotive, pharmaceuticals, and consumer products. Affordable residential developments will also be built in the estate, together with mixeduse commercial lots.

The municipal government of Laguindingan will also relocate and build a new Municipal Government Center within the estate.

Other projects include a provincial bus terminal which will provide convenient access to and from neighboring towns and cities, and a technical school that supports the push for quality education in the region.

The project is positioned as a new center of trade in commerce in Northern Mindanao and will offer a diverse mix of developments to create new lifestyle options and business opportunities.

The estate is a joint venture project of Ayala Land Inc. and its parent company Ayala Corp. which acquired the property in the 1960s and eventually donated 183 hectares to form part of the airport.

ALI Visayas-Mindanao group vice president and COO Jun Visnar said ALI has been committed to enhancing land values nationwide.

“In its development phase alone, we are targeting to generate around 2,580 jobs with potential employment of around 40,000 coming from the locators,” he said.