Friday, April 16, 2010

The Global City of the Ayalas at Quezon City - Quezon City Central Business District (QC-CBD)

Ayala Land North Triangle Development Masterplan

Snippets from Ayala Corp.'s Annual report for 2009

On August 27, 2009, ALI and the National Housing Authority (NHA) signed a Joint Venture Agreement to develop a
29.1-hectare North Triangle Property in Quezon City as a priming project of the government and the private sector.
The joint venture represents the conclusion of a public bidding process conducted by the NHA which began last
October 3, 2008.

ALI's proposal, which has been approved and declared by the NHA as compliant with the Terms of Reference of the
public bidding and the National Economic Development Authority (NEDA) Joint Venture Guidelines, features the
development of a new Central Business District (CBD) in Quezon City. The CBD will be developed as the Philippines'
first transit-oriented mixed-use central business district that will be a new nexus of commercial activity. The proposal
also aims to benefit the NHA in achieving its mandate of providing housing for informal settlers and transforming a
non-performing asset in a model for urban renewal. The development will also generate jobs and revenues both for
the local and national governments.

ALI's vision for the property is consistent with the mandate of the Urban Triangle Development (TriDev) Commission
to rationalize and speed up the development of the East and North Triangles of Quezon City into well-planned,
integrated and environmentally balanced, mixed-use communities. The joint venture also conforms to NHA's vision of
a private sector-led and managed model for the development of the property, similar to the development experience
in Fort Bonifacio.

The total project cost is estimated at P=22 billion, inclusive of future development costs and the current value of the
property, which ALI and the NHA will contribute as their respective equity share in the joint venture. ALI expects to
start the development within the next two years.

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