It’s now final and official! It’s all over the news. Property giant Ayala Land Inc. (ALI) will proceed with the construction of an integrated mixed-use complex in Cagayan de Oro, estimated to cost at least P2.5 billion.
The proposed project, which will rise on a 3.2-hectare property along Claro M. Recto Ave. at the heart of Cagayan De Oro City, is in partnership with Anflo Management & Investment Corp. and Mindanao Motors Corp.
Around P2.5 billion will be initially spent for the development of the centerpiece shopping mall with approximately 40,000 square meters of gross leasable area. The mall will offer basic conveniences addressing the everyday needs of the city, as well as unique, dining, entertainment and retail concepts that will serve immediate communities, tourists and transients, he said.
Construction on the shopping mall is expected to begin towards the end of 2010 and will be completed by 2012.
Another component of the project is the construction of a boutique hotel and an office building catering to the business process outsourcing (BPO) sector.
The project is designed to be an integrated mixed-use development that will change Cagayan de Oro’s urban landscape.
So some of the questions remain:
What would be the design of the mall? The news disclosed it will have a GLA of 40,000 square meters. So, the latest rendering below (Prima 1) is automatically out of the question because based on the blueprint, GLA will be about 10,000 sq.m….the townhouse on the lower left was not mentioned.
So, maybe the original design may have been followed afterall. An office-BPO building on the lower left and a 4-storey mall, the condo on the upper left might be the boutique hotel….it’s more likely. But still, perhaps Ayala has another design. But as stated in the press release, “THE PROJECT WILL CHANGE CAGAYAN DE ORO’S URBAN LANDSCAPE”.
I believe Ayala changed its mind on Primavera upon learning that local tycoon like Limketkai is building a high-rise with further expansion of its commercial complex while Ayala, a known business giant is just venturing into “Primavera”… even smaller than another regional tycoon like Gaisano.