Ayala Land to build central business district in QC
MANILA, Philippines - Property developer Ayala Land Inc. plans to build a central business district (CBD) near its TriNoma shopping mall which it believes is strategically located at the heart of Quezon City.
"We want to build some type of CBD for Quezon City. We want to build up on that. We feel the need for a host of other developments in the area," said company CEO Antonino T. Aquino at a press event on June 29.
Aquino explained that their strategy is to build CBDs around the country.
"I think in the annual stockholders' meeting, we have made a statement that we would like to have a presence in all the major urban centers in the city as well as the country. We would like to have a way to develop a mini Bonifacio or mini Makati in all [areas]."
Ayala Land's current focus is on developing the new business district of Bonifacio Global City. The company and its partners are pouring P30 billion into a real estate block deemed One Bonifacio High Street that they hope will rival Ayala Avenue, which Aquino considers the country's version of Wall Street.
Ayala Land also expects to expand south. "We have right now in our planning board other developments in the territory like what we're currently calling High Street South, near the southern part of Bonifacio High Street," he said.
The company is also investing P15 billion into forming a strategic partnership with the Ortigas group for the development of residential, office, retail, and hotel components in their various properties which extend from Mandaluyong to San Juan and Quezon City.
Aquino believes the "defining element" of Ayala Land is, as the saying goes - location, location, location. - Rappler.com