Ayala Land announces partnership for CDO residential development
The two families had the vision for tracks of beautiful rolling terrain in the city’s highlands. Ayala Land had more than 50 years of expertise and leadership in the real estate industry. Together, the partnership would realize the much-awaited entry of Ayala in Mindanao, at one of its most naturally impressive properties to date.
The property was first spotted by development partner and Cagayanon, Manuel “Manny” Gabriel Boniao. His late father, Francisco, had saved up to buy a single hectare property near the area to leave for his children. In his older days, he would take Manny for a walk to the modest property and its surrounding area. This was when he saw the beauty of the rolling highland terrain.
Manny and wife, Teresita Hojas Borromeo, started acquiring land in the area in 1993. Though primarily engaged in agribusiness, they saw the potential of developing this unique property which had a breathtaking view of both the city and the sea. It was Tess’ father, Aurelio who gave the couple the encouragement and guidance to invest in the property.
It was through their business that they met fellow project partner Ricardo S. Murillo, a Manila-based businessman. A good friend and trusted business partner of almost 20 years now, Mr. Murillo was brought by the couple to the area and was immediately convinced of the viability of investing in the property.
Both families are outstanding names in the community. Manny is the vice chairman of the Northern Mindanao Advisory Council of the Habitat for Humanity Philippines, and also a member of the Mindanao Committee of the Philippine Business for Social Progress. He is also involved in various projects including the Family Farm School Foundation which gives free education to out-of-school-youth daughters and sons of farmers, and has been invited as a cooperator of the Opus Dei community.
Mr. Murillo, for his part, sits as the president of the Cardinal Santos Medical Center in a joint apostolate venture with the Archdiocese of Manila. He took over in 1998 when the hospital was undergoing challenges in its operations. Today, the center provides free medical services to thousands every year.
To develop what they envisioned to be a residential haven atop rolling terrain, the Boniaos and Mr. Murillo thought of only the best in the industry.
“There were a lot of offers,” Tess said, “but I told Manny to wait for the right one. And we have no regrets.”
For his part, Mr. Murillo said that they chose Ayala Land as a partner since it had the experience, track record and reputed professionalism in the real estate industry.
Through it’s over 50 years of experience in real estate; Ayala Land, Inc. has earned a reputation as the countries leading real estate developer. It is primarily credited for Makati City’s metamorphosis from grasslands back in the 1940’s into the premiere business district it is today.
This latest project that Ayala Land is set to embark on with its partners in Cagayan is foreseen to e yet another landmark residential development bearing a solid testimony to the quality of its work and its integrity.
Mayor Emano, together with Cong. Tinnex Jaraula, Mr. & Mrs. Manny Boniao, Mr. Ricardo Murillo and Ms. Tetta Baad, cut the ceremonial ribbon to inaugurate the office of Ayala Land.
From left Mr. Ver de la Cerna of Ayala Land, Mr. Ricardo Murillo and Mr. Manny Boniao, Joint Development partners and Ms. Tetta Baad of Ayala Land as they answer questions from Media during the presscon.
Alegria Hills as it is today.