It was formerly part of Food Terminal Inc. before being sold to Ayala Land.
History
With the decline of FTI, established in 1974, there have been several attempts over multiple Philippines presidential administrations to sell off part of the property, including a public auction in 2009, but they all failed.[1]
In November 2012, the Philippine government announced the sale of the 74 hectares (180 acres) or 62% of the 120-hectare (300-acre) property to Ayala Land, Inc. for ₱24.3 billion.[2][1] Ayala plans to turn the property into a mixed-use development.[2] Proceeds from the sale are pledged to the programs of the Department of Agriculture and the Department of Agrarian Reform. The remaining 46 hectares (110 acres) remains in FTI.[2]
In 2013, Ayala Land renamed their property into Arca South.[3] Current construction of the mall is estimated to be completed by 2027, ten years after its initial target date.
In addition to its surrounding access roads, particularly those connecting it with the East Service Road, Arca South is also expected to be served by the Skyway-FTI Interchange of the Southeast Metro Manila Expressway, which will also connect it to the Skyway.[12]
^ abcBurgonio, TJ (13 November 2012). "Ayala buys FTI for P24.3B". The Philippine Inquirer. Archived from the original on 15 November 2012. Retrieved 13 November 2012.