Property giant Ayala Land Inc. is spending P14 billion to develop a 526 hectare property in Misamis Oriental into a masterplanned township.
Of that amount, around P3.8 billion has been set aside for the first phase development, which includes an industrial park that will be managed by subsidiary Laguna Technopark Inc.
Located in the towns of Alubijid and Laguindingan, in Misamis Oriental province, the mixed-use project is expected to promote inclusive growth in Northern Mindanao.
Parent firm Ayala Corp. acquired the property in the 1960s and eventually donated 183 hectares to form part of the airport.
ALI plans to bring to Misamis Oriental its experience and track record in building sustainable mixed-use estates.
Among its 26 estates nationwide, are landmark developments such as the Makati Central Business District, Bonifacio Global City in Taguig, Nuvali in Laguna and Cebu Business Park.
Strong growth opportunities in the Visayas and Mindanao regions have led to the continued expansion of Ayala Land in Davao, Cagayan de Oro, Cebu, Iloilo, and Negros Occidental.
