Ayala Land to spend P25-B for Balintawak project

ABS-CBN News

Posted at Mar 16 2015 03:12 PM | Updated as of Mar 16 2015 11:12 PM

MANILA – Ayala Land Inc. (ALI) will be spending P25 billion for the next 10 years for its 11-hectare mixed-use development in Balintawak, Quezon City.

The mixed-use project, Cloverleaf, will house residential, commercial, business, and retail developments.

"Our vision is to create a pocket urban development…Cloverleaf will give people access to refreshing retail, business, lifestyle and residential possibilities--elements that create an ideal urban lifestyle,” said ALI senior vice president Meean Dy.

The project features a landscaped pedestrian promenade that will connect EDSA to A. Bonifacio.

Cloverleaf is located along EDSA and A. Bonifacio and is accessible via the Light Rail Transit-Line 1 (LRT-1). It is also near the Skyway’s Stage 3 project.

"We always make it a point to locate where our products and services are easily accessible to more people," said Dy.

ALI said 62 percent of Cloverleaf is envisioned to house retail and business developments, including a 40,000 sqm regional mall, which is set to open by 2017.

Around 34 percent of the area, on the other hand, will be for residential purposes including a 1.4-hectare Avida Towers compound with about 2,000 units and Alveo towers having a total of 600 units.

The Avida and Alveo towers are set to be finished by 2019 and 2020, respectively.

The township will also feature Qualimed's flagship hospital, a 250-bed medical facility offering quaternary care services. The hospital is expected to be completed by the fourth quarter of 2017.

ALI is expecting to open Qualimed clinic and hospitals in UP Town Center this year; Alabang Town Center and NUVALI in 2016; Bacolod and Cebu in 2017; Market! Market!, Makati, Arca South, Harbor Point, and Abreeza, Davao in 2018; and Kawit, Cavite, Centrio Cagayan de Oro, and Cebu CBD in 2019.