Plastic City Complex (Valenzuela)

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MANILA - Gatchalian-led Philippine Estates Corp and the middle income unit of property giant Ayala Land Inc have inked a deal for the development of the former's Plastic City property in Valenzuela City.

Ayala Land president Antonino Aquino told reporters that the agreement covers the initial development of 2.3 hectares out of the 17-hectare master plan, with the objective of improving the entire 60-hectare property.

"These are just the implementing steps of that original memorandum of agreement we had previously entered into," said Aquino.

Avida Land will develop medium-rise structures, which have about seven to eight storeys, in the property. But just like other Ayala Land developments, the Valenzuela project is envisioned to be a mixed-use complex that will house not just residential, but office and retail establishments as well.

"The closest analogy you can have here is another Avida project we have announced in Muntinlupa,” Aquino said. In June, Avida Land acquired the 6.6-hectare site of the former Nestle coffee factory in Muntinlupa.

“I think it all depends on where the specific locality is. In Muntinlupa, it is in the main road, the old national highway, so maybe it will have a heavier dose of office and retail. You’re seeing a lot of our developments and products getting into the bigger scale type of development,” Aquino said.

Just 10 blocks away from the Valenzuela exit of the North Luzon Expressway, the Plastic City is envisioned to be the biggest integrated township complex in Valenzuela City.