Two property developers team to build120-ha Altarazza center

Philippine property developers Ayala Land and Araneta Properties have teamed up to build the 120-hectare Altarazza Town Center in Bulacan. The center is a mixed-use development with a residential component, a shopping mall, a hospital, a school, and office buildings for business process outsourcing firms. Ayala Land is spending P6.8bn over the next five years to develop Altarazza. Araneta Properties is also planning to develop a 140-hectare property in Caloocan City into a central business district. The company is also developing a 340-hectare property in Bulacan called Colinas Verdas in joint venture partnership with Sta. Lucia Inc.