Ayala Land Inc. (ALI) said on Monday it will spend some P25 billion in the next 10 years to redevelop an 11-hectare shuttered textile property in Balintawak, Quezon City.
The company said the development, called Cloverleaf, will become one of ALI’s “pocket developments” in Metro Manila.
The site is the former Central Textile Mill plant that spans Edsa and A. Bonificio Avenue in Quezon City, one of the busiest streets used by truckers and other motorists, as it leads to the North Luzon Expressway (Nlex). Part of Balintawak market is known among locals as Cloverleaf market.
“Our vision is to create a pocket urban development that will give people access to refreshing retail, business, lifestyle and residential possibilities—elements that
create an ideal urban lifestyle,”
said Ana Ma. Margarita Dy, ALI senior vice president for Strategic Land Banking.
The first phase of the project, which will be undertaken in five years and will cost P15 billion, involves the construction of eight buildings, including the 250-room Qualimed Hospital. Company officials said the hospital will serve as the flagship of Ayala Land’s venture with the Mercado family.
There will also be a community mall and five residential
towers—600 units will be allocated for Alveo Land Corp. for two towers and 2,000 units for Avida Land Corp. for three towers.
The second phase, which costs about P10 billion, will include office spaces involving seven more buildings. No other details were given.
“The mall is positioned to be a melting pot [of] Asian cultures, offering gathering and dining concepts not only for residents of Balintawak, but also for locals of Ca-loocan, Malabon, Novaliches and Valenzuela,” ALI said.
The mall and hospital are set to open by 2017, while the Avida and Alveo towers are set to be finished by 2019 and 2020, respectively.
ALI said the completion dates are just in time for the operation of the Skyway Stage 3, an elevated expressway that connects the Nlex and the South Luzon Expressway.
David San Pedro, ALI head for corporate planning, said the Qualimed hospital will be a quaternary medical facility, or a general hospital that has specialization in cardiac care and cancer treatment.
He said the first phase of the hospital is just less than half the size of the country’s main hospitals, such as the Chinese General Hospital and St. Luke’s Medical Center. But the company said it can double its size in the next 10 years.