Greenfield, BPI tie up for Laguna development project

Written by Miguel R. Camus / Reporter
http://businessmirror.com.ph
Sunday, 04 October 2009 19:56

REAL estate company Greenfield Development Corp. and Ayala-led Bank of the Philippine Islands (BPI) have teamed up to develop a house-and-lot project in Laguna aimed at attracting upper middle-class buyers.

In a recent interview, Greenfield chairman Jeffrey Campos said the joint-venture project involves the development of a 17-hectare property in the Santa Rosa. Under the terms of the deal, Greenfield will develop the BPI-owned property.

“I am very proud to say that it is the first joint venture project that BPI ever had with a land developer to do their property outside the Ayala group,” said Campos.

He said the project will be a “purely horizontal” development. He added that construction is expected to start in 2010 as the project is still in the planning stage.

Campos said lot sizes will average 150 square meters with provisions for two cars. No project cost was given.

Meanwhile, the development, which is still unnamed at this point, will also benefit from the nearby outlet mall Paseo Commercial Center, which Greenfield built in 1998.

While the housing development is Greenfield’s first project with BPI, the developer also has other projects with Ayala Group-affiliated companies.

Earlier, the company, in partnership with Ayala Land Inc. (ALI), launched the 600-hectare project in Maunong now known as Ayala Greenfield Estates. In 2005, it again partnered with ALI for the Ayala Greenfield Golf and Leisure Club inside Ayala Greenfield Estates.

Other residential developments of the Greenfield include the Hillsborough Subdivision Muntinlupa City, Southwood Residences in Carmona, Lexington Garden Village in Pasig City, San Antonio Heights and San Rafael Estates in Santo Tomas, Batangas, Soho Central Condominium in partnership with Century Properties and Meridien Group and Pramana Residential Park. The firm also developed the 65-hectare Greenfield Auto Park Santa Rosa, Laguna. The auto park has been designated as a special economic zone which enjoys incentives from Philippine Economic Zone Authority. Also developed by Greenfield is the 11-hectare Santa Rosa Business Park.