Ayalas, Lucio Tan to build P53B green estate
Ayala Land Inc. and Eton Properties Philippines Inc. are forking out at least P53 billion to jointly develop a 35-hectare mixed-use estate along the C5 corridor spanning Pasig and Quezon City.
The investment will be made over the next 10 years for the initial development of ParkLink, which is envisioned to be the greenest urban estate in Metro Manila.
ParkLinks will introduce a new standard for waterfront living with ALI?s upscale brand Ayala Land Premier and midle-income housing unit Alveo set to introduce five residential towers each during its initial phase.
The residential and business hub will be anchored by a mall which will have a gross leasable area of 58,000 square meters. On top of the mall is a 3,500 sqm sports complex that will house a basketball court, volleyball court, badminton courts, fitness gym and dance studio to support and inspire an active lifestyle.
Meean Dy, SVP and Strategic Landbank Management Group head, of ALI, said 50 percent of the 35 hectares are devoted to open spaces.
A three-hectare central park, esplanade, river park terraces, running & bike trails and riparian gardens will also be constructed to encourage the community to engage and appreciate the river system surrounding the development.
ParkLinks shall also build a 110-meter long and 25-meter wide iconic bridge to link Quezon City and Pasig over the Marikina river. This will create a new route that will help ease vehicular traffic in the northeast and east of Metro Manila.