ALI partners with Green Square Properties to develop Quezon property
Ayala Land Inc. has entered into a joint venture with Green Square Properties Corp. and Green Circle Properties and Resources to develop several parcels of land in Quezon province.
In a stock exchange filing, ALI said it formed a joint venture company with the two realty firms owned by lawyer and businessman Romeo Roxas to acquire and develop a total of 27,852 hectares of land in Dingalan, Aurora and General Nakar, Quezon Province.
ALI will own 51 per cent of the JV while Green Square and Green Circle will jointly own the remaining 49 per cent.
“The long-term vision for the ?roperties is to support the government?s initiative of developing the country?s eastern coast and promoting inclusive growth through the phased development of a masterplanned mixed-use estate, principally oriented towards tourism, commercial, residential, and institutional uses,” ALI said.
ALI said the properties would incorporate environmental and ecological programs that will focus on forest conservation and the protection of biodiversity.