Image by GianCayetano via Flickr
Image via WikipediaProperty giant Ayala Land Inc. is planning to develop the 21-hectare former racetrack of Philippine Racing Club Inc. into the entertainment district of Makati City.
In an interview, ALI Strategic Landbank Management Group vice president Anna Bautista-Dy said ALI will take advantage of the property’s being near a river and should be launching projects by next year.
“We’d like more live performances, spaces for gathering around, more river-facing projects, perhaps a boardwalk along the river,” she said adding that it will be “more of an outdoor oriented retail, entertaining component.”
ALI and subsidiary Alveo Land Corporation have signed a deal with PRCI earlier this year for the mixed-use development of PRCI’s property in Bgy. Carmona, Makati City.
PRCI corporate secretary Jesulito Manalo disclosed to the Philippine Stock Exchange that, under the agreement, PRCI will contribute its 21 hectare lot for its joint development into a mixed-use real estate project.
ALI chief finance office Jaime Ysmael said the project will form part of ALI’s ongoing developments in the City of Makati but specific details are not yet available and will be disclosed later.
http://mb.com.ph/articles/335825/ali-developing-former-prc-racetrack
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