Ayala Land stock price was up at yesterday’s close to 39-pesos as DOTC awarded another Private Partnership Project (PPP), the P4-billion Integrated Transport System (ITS) South Terminal to the property firm. As the winning bidder, ALI will take care of the design, construction, operation ad maintenance of the terminal for a concession period of 35 years.
“This project will enable commuters to have seamless transfers from one mode of transport to another. Creating a central terminal for all types of public transportation will not only give access to our daily commuters, but also help those who are unfamiliar with PUV routes and services.” said DOTC Secretary Jun Abaya.
Ayala land bested four other local firms who have submitted their pre-qualification documents, namely Megawide Construction Corporation, Ayala Land Inc., Datem Inc., and Filinvest. The project covers the construction of a terminal within a 4.7 hectare lot along FTI Compound, Taguig. It will connect passengers coming from the South, specifically the Batangas and Laguna area, to other Public Utility Vehicles that are serving inner Metro Manila.
The project also covers the construction of arrival and departure bays, public information systems, ticketing and baggage facilities and park-ride facilities.
According to ALI, it is estimated that up to 4,000 buses and 160,000 passengers will feed into ITS South from SLEX (South Luzon Expressway).
Construction of the ITS terminal will begin by May 2016 and is expected to be completed and ready for operation by October 2017, the property firm said.
Part of the 74-hectare lot of the FTI complex is Arca South, an 80-billion masterplan project expected to be the newest central business district project in the metropolis. Arca South will carry ALI’s brands like Alveo and Avida.
About Me
A licensed real estate broker accredited with ALI. If you want to know more about Arca South and its projects you can reach me at 0926-645-4259 or drop me a note here.
southcrib 