Ayala Land takes it a notch higher by partnering with Eton
Property developers Ayala Land, Inc. (ALI) and Eton Properties Philippines, Inc. (ETON) are investing P53 billion over the next 10 years for a 35-hectare site development in the areas of Quezon City and Pasig City. As such, the companies entered a 50-50 joint venture agreement establishing a firm called ALI Eton Property Development Corp. (AEPDC) which will develop ParkLinks, Ayala Land’s 25th estate in the Philippines, and eyed to be the “greenest urban estate” offering residential, office, and commercial spaces.
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Expect Quezon City and Pasig land prices to go up
“By forging together, we are able to have an estate that has scale and access that will capture both Quezon City and the Pasig markets. And our combined experience will result to designs that will differentiate ourselves in this corridor,” ALI Senior Vice-President and Strategic Landbank Management Group Head Anna Ma. Margarita Dy said in a speech during the project’s launch on Thursday.
AEPDC will build a 110-meter bridge over the Marikina river, linking QC and Pasig. In fact, it still already preparing plans for the construction by consulting the local government units of Pasig City and Quezon City, as well as, the Department of Public Works and Highways for the necessary permits before the project can proceed.
“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,” the company said.
Ayala Land Premiere and Alveo
The first phase will cover less than half of the whole estate or 16 hectares and of the total funding commitment for the first phase, 75% will be allocated for residential projects, 17% for leasing businesses, and 8% for estate development.
It will also build a 58,000-sq.m. regional mall and a residential project by AyalaLand Premier (ALP) inside the estate this year and will house a 3,500-sq.m. sports complex complete with a basketball, volleyball, and badminton courts, a fitness gym, and dance studio. The mall is set to open in 2021.
The first tower of the ALP project will be launched by the fourth quarter of this year. ALP plans to launch four more towers over the next five years, with 1,688 residential units. Asked whether Eton Properties will also be introducing its real estate brands into ParkLinks, Chief Operating Officer Josefino C. Lucas explained that they which to adopt ALI brands instead.
With respect to the second phase of the project, ALI Assistant Vice-President for Strategic Landbank Management Group Ma. Carmela K. Ignacio said the funding could reach over P60 billion due to land appreciation.
Technicals
The stock is currently sideways with a tradable range of 41.75 – 46. Buy as close to 41.75 every time in bounces there and take profit at 46. If the stock fails to hold 46, the first possible retracement would be at 44.2. If it fails to hold that, it could possibly go down to 41/75. If it successfully breaks out of 46, it could hit 50/51 in the short to mid term.
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