(Business World | November 23, 2018)
To cater more to the needs of commuters in Balintawak area, Ayaland Land, Inc. (ALI) is expanding its Cloverleaf mall.
Ayala said that it targets to open phase 2 of Ayala Malls Cloverleaf by 2022, offering a gross leasable area (GLA) of around 40,000 square meters (sq.m.).
“Because of the success of phase 1, we will have Ayala Malls phase 2, but unlike the first one this is more targeted to the commuter sector of Quezon City or Balintawak in particular because of its connection to the LRT station,” AyalaLand Estates, Inc. Project Development Senior Associate Paula Eimreh Joy Cagampan said.
Construction on the Cloverleaf mall is set to start in January.
Ayala Malls Cloverleaf phase 1 currently caters to the mid-income market. Opened in October 2017, the mall covers about 38,000 sq.m. in GLA spread out across four levels. It features six cinemas and various retail shops targeted toward millennials.
Also set to rise in Cloverleaf is a residential tower by ALI’s upscale market brand, Alveo. The project will have three residential towers, with the first to be launched by the third quarter of 2019.
The company has allocated to spend P15 billion to develop phase 1 of Cloverleaf, out of the total P23-billion budget for the estate. Since its launch in 2015, the company has already completed about 42% of the developable area.
Cloverleaf is one of 26 estates across the country under ALI’s portfolio. Its most recent one is called Habini Bay, a 526-hectare property located in the municipalities of Alubijid and Laguindingan, Misamis Oriental. It will house an industrial park to be managed by Laguna Technopark, Inc.
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