Ayala Land Inc. is investing P18 billion to develop its newest mixed-use estate, a 290-hectare property in Tarlac City called Cresendo.

Cresendo estate head John Estacio said in a press briefing Tuesday that Cresendo would be the company’s 29th estate development. It will have various components, including commercial, industrial, residential and educational developments.

“Our vision is to encourage more homegrown entrepreneurs and new businesses at Cresendo. The property is strategically located and has a young and growing population that makes it one of the promising areas in the region,” Estacio said.

Out of the P18-billion programmed spending for the estate, about P5.5 billion has been allocated for phase 1 of the project, which will see the rise of a 1.5-hectare civic plaza, church, school, retail strip, residences, and transport terminal.

By Jenniffer B. Austria

Source: Manilastandard.net