MANILA, Philippines — Ayala Land Inc. (ALI) will spend about P18 billion over the next 10 to 15 years for the development of a 290-hectare property into its first integrated mixed-use estate in Tarlac City.
In a media briefing Tuesday, company officials said project, called Cresendo, will feature industrial, commercial, residential and educational facilities.
Cresendo estate head John Estacio said ALI would spend P5.5 billion for the development of the first phase of the project, which includes a 1.5-hectare civic plaza, church, school, retail strip, residences, transport terminal and an industrial park.
The 32-hectare Cresendo Industrial Park, which occupies about 11 percent of the estate, will offer 1,200 sqm to 10,000 sqm lots for sale at P6,000 to P9,000 per sqm.
Estacio said the sale of the lots is seen to generate P1.5 billion.
“The industrial park is intended for light to medium industries in non-polluting, non-hazardous enterprises. It has so far attracted locators for manufacturing, logistics, warehousing, and others in need of standard factory buildings,” he said.
Estacio added that they have launched the larger industrial lots, with six lots already sold.
“Next year, we expect to launch the smaller industrial lots,” he added.
CIP features highway-grade concrete roads, digital hybrid fiber-optic telecommunication network, a dedicated power substation and ample supply of water. It is set to open in 2022 and will initially generate approximately 2,000 jobs.
In line with the jobs to generated by the industrial park, Cresendo will also house the Don Bosco Technical Institute, which will open its senior high school starting 2022, followed by the opening of the Technical Vocational Education and Training Center.
This institution will offer technical skills education and establish innovation centers for the youth.
“The school aligns closely with the vision of Cresendo as a place with opportunities for employment, education and growth. Graduates will have a higher probability of employment in the industrial park, the commercial district or to even venture into starting their own business,” Estacio said.
Aside from the industrial park and the school, Cresendo is also expected to have built up its transport terminal and first residential subdivision by 2022.
Meanwhile, the project’s central plaza will also offer commercial lots for sale from 500 sqm to 2,000 sqm cuts.
The smaller lots categorized as shophouses give buyers the flexibility to use their lots either as purely commercial or a mix of commercial and residential.
Estacio said the commercial district will cover 11 percent of the total estate area, with sale of commercial lots expected to start next year.
Bulk of the Cresendo estate or 59 percent will be used for the residential component of the project, targeted to house five horizontal subdivision projects.
Moreover, 31 percent of the estate will be dedicated to the network of civic spaces, highlighted by the 1.5-kilometer greenway connecting the central plaza and the seven-hectare river terraces.
“Roads will be lined with native trees and wide sidewalks will make for a more pedestrian-friendly environment. The estate is master planned to be highly walkable and well-organized with dedicated pedestrian and bike lanes,” Estacio said.
Cresendo is approximately three kilometers away from the Subic-Clark-Tarlac Expressway (SCTEX) and MacArthur Highway. It is also accessible through the Tarlac–Pangasinan–La Union Expressway (TPLEX) and SCTEX, as well as the Central Luzon Link Expressway (CLLEX).
With the CLLEX now 97 percent complete, Cresendo will benefit from an enhanced road network across the province and the region.
“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.