THE joint venture (JV) of property developers Eton Properties Philippines Inc. (EPPI) and Ayala Land Inc. (ALI) will spend some P53 billion to develop separate properties along the Pasig and Quezon City areas.
The two firms will develop a 35-hectare property, which will be called Parklinks, which is co-owned through a 50-50 JV between EPPI and ALI .
One of the properties is a 5-hectare lot along Quezon City’s C-5 area and the other is 30 hectares. The two properties will be connected by a bridge that will also be opened to the public. ALI owned the Quezon City side while Eton owned the property on Pasig City before the two firms combined ownership of the land.
The bridge is a 110-meter long and 25-meter wide and will be designed to link Quezon City and Pasig over the Marikina river. This will create a new route that will help ease vehicular traffic in the northeast and east of Metro Manila. The bridge will have dedicated lanes for bikers and pedestrians, allowing a safe and convenient commute within and around the development.
“With 50 percent of the 35 hectares devoted to open spaces, Parklinks will provide what is sorely missing along the busy C5 corridor—an abundance of open space,” said Anna Maria Margarita B. Dy, senior vice president and head of ALI’s strategic landbank management group.
Maria Carmela K. Ignacio, the company’s assistant vice president, said all of the brands that the company will develop will be Ayala Land, but the two companies—with Eton—will both spend for the development costs.
The plan includes a 3-hectare central park located at the heart of the business district. The esplanade, river park terraces, running and bike trails and riparian gardens designed to accentuate the riverside are intended to highlight the natural topography of the land, and will encourage the community to engage and appreciate the river system surrounding the development.
The companies said it will spend the amount in 10 years.
The new residential and business hub will be anchored by a 58,000 square meter gross leasable area regional mall that will be situated along the estate’s C5 frontage.
On top of the mall is a 3,500 square meter sports complex that will house a basketball court, volleyball court, badminton courts, fitness gym and dance studio to support and inspire an active lifestyle.
It is set to introduce five residential towers of Ayala Land Premier is expected to be the first luxury residential development along the C5 corridor, while Alveo will likewise introduce five residential towers during its initial phase.
Parklinks will be accessible via C5, Amang Rodriguez Avenue and Ortigas Avenue. Plans also include additional linkages to the estate’s neighboring communities like Circulo Verde and Metropoli.