Property developer Ayala Land Inc. (ALI) and Leonio Land Holdings Inc are pouring an additional P10 billion in capital spending on Alviera, a mixed-used estate in Porac, Pampanga, banking on the growth potential of Central Luzon. “We would be putting in P100 billion over the project life,” Alviera general manager John Estacio said in a press briefing in Makati City on Tuesday. ALI estimated an initial investment of P90 billion during the project life of Alviera in 25 to 30 years. “Given the growth in our economy and certain areas we want to focus on, we have expanded Alviera to 1,800 hectares—a significant increase of about 700 hectares and investment,” he said. Alviera, an integreated mixed use estate of Ayala Land located in Porac, Pampanga. ALI is looking at huge potential to the mixed-use development in Porac—once devastated by lahar when Mt. Pinatubo erupted in 1991—in line with expectations of economic growth in Central Luzon. “Central Luzon is the third la...