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Ayala Land invests P15B in alliance with Ortigas group

June 29, 2012 8:13pm

Tags: Ayala Land
Ayala Land Inc. has set aside P15 billion as its initial investment in a “strategic alliance” with the holding firm of the Ortigas group “in the development of its various properties and businesses” in San Juan, Mandaluyong and Quezon City.
 
In a disclosure to the Philippine Stock Exchange, ALI senior vice president and chief finance officer Jaime Ysmael said the alliance to be negotiated with OCLP Holdings Inc. “is expected to generate significant synergies with other projects of the company in nearby communities,”
 
He noted the ALI’s mixed-use projects in Pasig and Mandaluyong areas, as well as Bonifacio Global City and the Makati commercial business district.”
 
“This opportunity comes with the invitation of the group of Mr. Ignacio R. Ortigas and is ine line with the company’s expansion plan,” the ALI CFO said.
 
Ysmael added that the project with the Ortigas group “includes plans for residential, office, retail and hotel components.” — ELR, GMA News

Tags: Ayala Land



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