Wednesday, September 24, 2008

Groundbreaking of Ayala Center Davao Yesterday!

The groundbreaking of the P5 billion Ayala Center Davao yesterday along JP Laurel Avenue, Davao City marked another milestone for a growing economy in the city.

The project that will rise within a 10-hectare property is a partnership between Ayala Land, Inc. (ALI) and the Antonio Floirendo Corp. (Anflocor).

The project includes Abreeza, a 61,000 square meter mall with office buildings and 18,000 square meter business process outsourcing (BPO) center.

Operations of the first phase of the mall will start on the fourth quarter of 2010, while the second phase will start on the third quarter of 2011.

Operations of building 1 of the BPO center is targeted to operate on the fourth quarter of 2009 and building 2 on the fourth quarter of 2011.

ALI president Jaime Ayala at a press conference yesterday held at Pearl Farm Davao Marina said the project’s total cost is estimated at P4billion to P5 billion.

Anflocor director Maria Christina Brias said they are projecting to generate 11,000 jobs from Abreeza Mall and the BPO center.

But Ayala said they are optimistic the number will grow higher given the multiplier effect which the BPO center stands to create when it fully operates.

Based on the Abreeza fact sheet, ALI will own 67 percent of the development project while Anflogroup will own 33 percent.

Three hectares of the entire property will also be sold as lots for residential or commercial purposes.

He also said that both companies will step up marketing promotions to lure both local and international investors to locate in said huge business establishment.

Ayala identified the stable peace and order situation in Davao City and the positive performance of retail sales as among the economic indicators in Davao City that pushed ALI and Anflogroup to venture into such a gargantuan project

Source

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