THE city government of Parañaque announced that Ayala Land Inc., the property-development arm of the Ayala group, is joining the action at the Manila Entertainment City in Parañaque with its plan to build a huge mall complex.
Mayor Edwin L. Olivarez said that, according to documents, Ayala Land’s plan includes the construction of a business-process outsourcing (BPO) hub and a hotel at a 9-hectare property in the Entertainment City.
Olivarez said the decision of Ayala Land to invest in Parañaque is a huge vote of confidence for the city, which, in 2014, was adjudged the country’s most competitive city in terms of economic dynamism, and is now dubbed the Mega City by the Bay.
“This is another affirmation of Parañaque’s emergence as a new economic and business hub,” he said.
He added: “We welcome with open arms Ayala Land’s investment, which we estimate should create at least 10,000 new jobs for our people and help sustain the country’s robust economic growth.”
Olivarez said Ayala Land filed an application for a locational clearance with the city’s Local Zoning Board of Adjustments and Appeals for its Entertainment City project, which is entirely within the jurisdiction of Barangay Tambo in Parañaque.
The application was swiftly approved by the board last week, he added.
The mayor said the Ayala decision proves that his administration’s “Invest in Parañaque” program, which is aimed at attracting more quality, long-term investments that create stable jobs, is beginning to yield dividends. He said more businesses have expressed similar interest to locate in Parañaque in the coming months.
Lawyer Melanie S. Malaya, head of the city’s Business Permits and Licensing Office and a member of the board, said Ayala Land’s specific application is for the construction of a mall along Macapagal Avenue, which, she said, will be bigger than the nearby SM Mall of Asia (MOA) complex.
The MOA is listed as having 407,000 square meters in gross floor area.