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| English: Ayala Avenue in Makati City, Metro Manila, Philippines (Photo credit: Wikipedia) |
Property giant Ayala Land Inc. unveiled Friday a P20-billion, five-year development plan for a new urban entertainment hub called “Circuit Makati,” which will rise on the former Sta. Ana racetrack owned by horse-racing operator Philippine Racing Club Inc.
“Circuit is Ayala Land’s 21-hectare integrated, mixed-use development anchored on entertainment experiences that brings together Ayala Land’s various product lines—Alveo for residential, Ayala Malls and offices and Ayala Hotels,” ALI president Antonino Aquino said.
The name “Circuit Makati” was coined in honor of the Sta. Ana racetrack, Makati’s heritage as a former “racing circuit.” ALI said the “circuit” also connotes energy, vibrancy and excitement.
ALI has ruled out incorporating gaming in the development or any other future projects. Circuit, for instance, is envisioned to focus on family-oriented entertainment. “We know that sometimes, there are other risks involved. We feel that we could sustain our high-growth trajectory without going into gaming,” Aquino said in a briefing.
The new development will feature the Circuit Theater, a 1,500-seater performing arts venue envisioned to showcase Filipino world-class talent and feature “Broadway-type” entertainment. It will also have “Circuit Lane,” an interactive walk with a multipurpose black box for more intimate shows, recitals, workshops and parties. The interactive walk will span across the entire length of the district, highlighted by a water feature flanked by retail and leisure shops. There will also be a Circuit Events Grounds, intended to be a venue for various concerts, dance and theater performances, fashion shows, exhibits as well as outdoor sporting events such as football.
The first phase of the Circuit development to be unveiled this year will include a two-hectare open grounds area that can accommodate up to 20,000 people in a single event. The international-sized football turf will be operational by the fourth quarter of this year. ALI plans to put up a football school in the area, which will also offer other sporting activities like karting and skating.
“The Circuit Event Grounds will feature a 2,000-square meter canopy area which can house up to 1,000 people and is set to be the preferred entertainment venue in the metro, hosting numerous outdoor events and activities providing fun for all,” said Mel Ignacio, project development head.
By next month, Alveo Land is also set to launch its residential projects at Circuit Makati while the mall and retail developments are expected to begin construction next year.
ALI officials announced that the complex would have eight to 10 residential towers within the next 10 years, initially carrying the Alveo brand. But the group plans to bring in other brands as well, including Ayala Land Premier. Each tower will offer 400 to 450 residential units. Alveo is set to launch the first 40-storey tower next month.
http://business.inquirer.net/102293/p20-b-entertainment-hub-to-rise-from-former-racetrack
