MANILA, Philippines—Property giant Ayala Land Inc. (ALI) has recently announced that it is investing P70 billion for Vermosa, a 700-hectare mixed-use community located in Cavite.
The multi-billion peso project will be the company’s fourth largest estate after Makati central business district, Alviera in Porac, Pampanga and Nuvali in Laguna.
“Building large scale mixed-use developments that are strategically located in the country’s emerging growth centers will continue to be our focus. Our residential brands continue to introduce new offerings within our estates,” said Bernard Vincent O. Dy, ALI President and CEO.
Of the 700 hectares, a central business district will take up 124 hectares of the development, which will hold various business and commercial establishments, residential developments and schools. Furthermore, 165 hectares of land will be devoted to open spaces and interconnected parks and gardens.
The pedestrian-focused environment will feature a 14- kilometer greenway, a landscaped promenade stretching north to south of the project that will allow residents to ride a bike to work or walk to nearby establishments, further reducing reliance on public vehicles.
Focusing on Filipinos’ increasingly active and healthy lifestyle, the estate will also have the Vermosa Sports & Lifestyle Complex (VSLC), which will feature an Olympic-size pool, 400-meter track and field and the most advanced and complete sports science laboratory in the country. VSLC will also have a motocross track and the first purpose-built mountain bike skills track in the Philippines.
The property is accessible via the newly opened Muntinlupa-Cavite Expressway (MCX), the government’s first public-private partnership project bagged by the Ayala conglomerate.
The MCX tollway connects the Daang Hari Road to the South Luzon Expressway and shortens the travel time to Cavite by 30%, making Vermosa 55 minutes from Makati during peak hours.
The entire project is slated to be completed in the next 12 to 15 years.