The south of Metro Manila just became more interesting with the launch last week by Alveo Land of a sprawling, mixed-use district in Biñan, Laguna.
Broadfield, a 120-hectare, master planned estate in Laguna, is envisioned as an 80-hectare commercial and mixed-use district, complemented by 40 hectares for residential subdivisions.
In a media briefing in its office in Taguig City last Friday, the upscale unit of Ayala Land, Inc. (ALI) presented its biggest commercial district project to date, which will be located four kilometers from development complex Nuvali and 21 kilometers from Alabang.
The company is targeting to raise P17.7-18 billion from selling the 36.6-hectare Phase 1 of the project. It will have a total of 87 lots, of which 35 lots have been offered last week for an average list price of P185 million. Turnover of this segment is scheduled in 2023.
LOCAL INVESTORS, ENTREPRENEURS TARGETED
“Our target markets are local investors and local entrepreneurs,” Alveo Land chief operating officer Rufino S. Gutierrez told the Manila Standard. “They plan to either build their own building and have a commercial space under, or for the investors, sometimes they lease the land to other companies.”
UPCOMING INFRASTRUCTURE A BOON
Guiterrez pointed to positive outlook for Broadfield due to upcoming infrastructure, specifically the Cavite-Laguna Expressway and the proposed Cavite-Tagaytay-Batangas Expressway, will help boost access to the commercial district once it opens.
“The surrounding immediate areas are thriving,” he explained. “These include mushrooming residential spaces and various companies, businesses and industries coming over to set up operations.”
Once completed, Broadfield will be equal to half the size of Bonifacio Global City in Taguig (240 hectares). Its main roads will be designed similarly, with bike lanes, walkways and tree-lined streets.
Broadfield includes two previously launched Alveo residential subdivisions in the area, Venido on the northwestern portion, and Aveia just across it.
GREEN CITY
Located behind Broadfield’s commercial district will be the 50-hectare Laguna campus of De La Salle University. The campus will also be the site of the Shrine of St. John Baptist de la Salle, patron saint of teachers. The sanctuary is expected to be a pilgrimage site for educators and will be completed in 2020.
The development will also be near the Laguna Technopark and the Laguna International Industrial Park. Other established commercial and retail options in the area are Nuvali’s Ayala Malls Solenad, Laguna Central Mall and Paseo Sta. Rosa outlets.