Daily Star logoTop Stories

Bacolod City, Philippines Friday, March 6, 2015
Front Page
Negros Oriental
Star Business
Star Life
People & Events

Guv: Ayala to draw investors,
change economic landscape

The P6 billion integrated, mixed-use “Capitol Central” development project of AyalaLand Inc. on provincial government property in Bacolod City that is finally taking off will drastically change the business and economic landscape of Negros Occidental, Gov. Alfredo Marañon Jr. said yesterday.

The huge development project of Ayala will be a catalyst for drawing more investors into the province, like honey drawing all the bees, the governor said at the “Capitol Central” groundbreaking rites yesterday morning on ALI leased provincial government property behind the Capitol building.

ALI has “opened the floodgates for more business and investment potentials for Negrenses”, he added.

The entry of more investors will boost the province’s efforts to shift away from dependence on a mono-crop sugar industry, the governor said.

ALI has leased 4.04 hectares from the provincial government for its Capitol Central project and its purchase of 3.6 hectares more is expected to push through also, he said.

In fact the area to be purchased has already been included in its development plan, Marañon said, noting that the project will create thousands of jobs for Negrenses.

The mixed-used development that will include a hotel, residential buildings, a BPO office building and a mall will cover 9 hectares, and the construction work will be completed in 2017, Bobby Dy, ALI president and CEO, said.

Dy said they chose to build in Bacolod because it is a “a key growth area and a city facing rapid growth”

“This development shows our commitment to supporting national development and economic progress,” Dy said.

Dy said Ayala has planned an ideal live-work-play environment that is accessible to all.

“We are truly excited to bring Ayala Land’s experience of developing integrated, mixed-use communities into the heart of Bacolod City. We are committed to staying true to our track record of creating masterplanned developments, as we have done so with Makati, Bonifacio Global City, Nuvali, and even Northpoint in Talisay,” he said.

To be built on the provincial government property facing the north side of the Capitol Lagoon Park is the Seda Capitol Central, an 8-storey hotel with 155 rooms expected to open in the fourth quarter of 2016.

Seda hotel, is the first Filipino-branded hotel chain in the country, Dy said, adding that they “believe the City of Smiles will be an ideal place to showcase Filipino hospitality, and we envision Seda to be a leading hotel for business travelers in the city.”

The Ayala Malls Capitol Central to be built behind the provincial Capitol is a regional mall with about 70,000 square meters, including events facilities for large gatherings, and is expected to be completed by the second quarter of 2017.

The regional mall hopefully will provide more opportunities for the region’s enterprising individuals, and its outdoor spaces and gathering places will seek to enhance civic life, Dy said.

The Capitol Corporate Center will be a 4-storey BPO office building on about 6,000 square meters, expected to be completed in the first quarter of 2017.

The development will have a corporate center for 24/7 operations, further bolstering the region’s competitiveness and making Negrense talent and skill more accessible than before, Dy said.

To be built on property at San Juan Street is the Amaia Steps Capitol Central, two 9-storey residential buildings with about 288 units per tower. The first building of Amaia Steps is targeted for completion in three to four years, Dy said.

Amaia Steps will complete the live-work-play environment, improving quality of life with its proximity to work and leisure areas, while further attracting and catalyzing investment and value appreciation in the area, he said.

”We look forward to Capitol Central showcasing what the region is known for, from skilled employees to value-creating entrepreneurs, from quality products to excellent service,” he said.

Dy thanked Marañon and his team for moving the project forward and opening the opportunity for ALI.

Marañon said the realization of the multi-billion project can be credited to the political will of his brother, the late governor Joseph Marañon, who despite the odds and criticisms cleared the area of squatters and prepared it in a bid to attract major investors.

“What used to be a non-productive piece of land for many decades will now be transformed into a center for economic activity,” he said.

Thousands of Negrenses will benefit from the Capitol Central project through employment opportunities during the construction phase and after, the governor said.

Dy said the Capitol Central will generate at least 4,100 jobs for Negrenses.

He also thanked Bacolod Mayor Monico Puentevella and his team for also welcoming ALI into Bacolod City.

Puentevella lauded governors Joseph and Alfredo Marañon for the political will to draw investors to the Capitol property.

He also echoed Marañon’s statement that Ayala’s presence in Bacolod will attract more investors to the province.

With the numerous investors coming into the city, Bacolod is on the roll, the mayor said.

Negros Occidental Vice Gov. Jose Eugenio Lacson said finally after a long wait the Capitol Central construction is starting.

This is a challenge to government officials to create the economy to support the project, he said.

He also noted that that ALI is creating adequate parking space for its facilities, including in the fifth and sixth floor of its mall.*CPG

back to top

Front Page | Opinion | Negros Oriental | Business | Sports
Star Life | People & Events| Archives | Advertise
Top Stories
ButtonNew city tax ordinance null and void, DOJ rules
ButtonGuv: Ayala to draw investors, change economic landscape
ButtonEjectment suit filed vs.abattoir firm
ButtonBacolod-Silay airport part of P1 trillion plan
ButtonEnergreen power delayed again
ButtonSuspect in gov’t worker’s  murder in Bago gives up