Ayala Land Inc. plans to spend P5.2 billion in the next five years to kick off the development of its 49th estate and second realty venture in Plaridel, Bulacan.

ALI on Thursday broke ground for Crossroads, an 83-hectare integrated mixed-use master-planned estate in the rising enterprise zone on the eastern side of Bulacan.

"Over the last couple of years, investments by the government through major infrastructure and the private sector have undoubtedly pushed economic activity towards Central Luzon," Ayala Land Estates' Group Head Robert Lao said in his speech during the groundbreaking ceremony.

"Now, with Crossroads, the estate's central location will serve as a key gateway and the newest commercial node of Central Bulacan and the rest of the region's growth corridor," Lao said.

ALI envisions Crossroads ushering in new commercial investments and developments to complement the growing activities in the area. Thus, it will offer new opportunities for local enterprises, leisure spaces, and convenience for the rest of the community.