BY UNICAPITAL SECURITIES
Ayala Land Inc. (ALI) today broke ground for its newest mixed-use project, which will rise in the northern part of Metro Manila.
The 11- hectare “Cloverleaf,” named after the shape of the interchange that leads to the North Luzon Expressway (NLEX), will rise along EDSA and A. Bonifacio Avenue where the cities of Caloocan and Quezon meet.
Ayala Land Inc (ALI) is spending P25b over a 10- year period to build the project, which would take after developments such as the Bonifacio Global City and Nuvali.
At least a third of the project will be devoted to residential condominiums and the remaining two-thirds of the project would house retail and commercial shops.