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Alsons group, Ayala Land ink Davao joint venture


The family of former Trade Undersecretary Tomas Alcantara has inked an agreement with Ayala Land Inc. to develop a 25-hectare integrated and mixed-use community in Lanang District, Davao City.   The property is owned by a company jointly owned by Alsons Development & Investment Company and listed Alsons Consolidated Resources Inc.  Both companies are owned by the Alcantara family.   The development will cover residential and commercial lots, low-to-mid-rise towers and a retail area, Alsons Consolidated said in a statement to the Philippine Stock Exchange. It will add more than 2,000 condominium units and approximately 7,000 square meters of leasable space to Ayala Land’s growing residential and commercial leasing portfolio.   Alsons Consolidated president Alcantara noted the partnership will provide synergy between long-time Davao property market leader Alsons Development and Ayala Land. — VS, GMA News

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