Quantcast
Latest Stories

ALI seeks more landed partners

Aims to replicate Makati, Global City developments across PH

By

Property giant Ayala Land Inc. is firming up several joint venture projects with some of the biggest landed clans across the country on expectations that the real estate sector will remain robust as confidence in the country’s economic prospects grow.

ALI president Antonino Aquino shared with reporters updates on ALI’s ongoing discussions with Palilio-led Boulevard Holdings Inc., which is developing the Puerto Azul resort complex in Cavite, and on the plans with the Aboitiz and Gaisano families in Cebu.

Talks with Boulevard Holdings are still in the pre-due diligence phase but Aquino said the actual process, also meant to determine which portions of the 3,000-hectare property can be developed, should be done in four months.

“We just came out with an agreement to talk and we will come around with the various requisites you have to do prior to official due diligence work.  The due diligence should take about 100 days,” Aquino told reporters at the launch of Solstice, a high-rise residential tower in Circuit, a mixed-use leisure and entertainment complex in Makati City.

“We are talking about leisure-type communities. Similar to what we have in Anvaya and El Nido,” Aquino said, referring to ALI’s resort complex in Morong, Bataan and its beach resorts in Palawan, respectively.

The company is also ramping up its presence in Cebu. ALI, in partnership with Aboitiz Land Inc., is looking to develop a third business district in Cebu City.

Cebu Holdings Inc., a 49.8-percent owned unit of ALI, has so far developed two sites in Cebu: The 50-hectare Cebu Business Park and the 27-hectare Cebu I.T. Park. Aquino says there may be room for one more similar business hub in the province.

“With Aboitiz Land, we will acquire something together. This will effectively be the third business district-oriented development in Cebu,” Aquino said.

Moreover, ALI earlier agreed to take a 55- percent stake in a joint venture with Gaisano-led Vicsal Group to develop a 12-hectare property in Mactan Island near Shangri-La Hotel.

“It is more of a leisure type of development,” Aquino said.

ALI’s broader goal is to find partners to replicate across the country its successful mixed-use developments like Makati City and Bonifacio Global City. In Mindanao, ALI has already partnered with the Floirendo family to build the mixed-use Abreeza project in Davao.

In March, the builder tapped the Alcantara family to develop a 25-hectare mixed-use community in Lanang, Davao.

Standard and Poor’s last week raised the Philippines’s debt rating to investment grade, a month after a similar move by Fitch Ratings.

The local unit of property consultancy and brokerage firm Colliers International said last week that the outlook for the Philippine real estate sector remained buoyant. This was further bolstered by the affirmation of a ratings upgrade.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Ayala Land Inc. , Business , property development



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Suspect in Vhong Navarro’s mauling wants to turn state witness – De Lima
  • Why are Americans obsessed with missing plane?
  • Napoles to have surgery on Tuesday – report
  • Mayor’s assassination linked to black sand mining controversy
  • Initial batch of Etihad passengers tested negative for MERS-CoV
  • Sports

  • PBA D-League: Waves edge skidding Superchargers
  • Ilad’s last-second basket lifts Gems over Bakers
  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Arrest warrants out vs. Deniece Cornejo, Cedric Lee, et al over serious illegal detention
  • Lindsay Lohan says she had a miscarriage
  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Business

  • Century Pacific Food sets IPO price at P13.75 per share
  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Filipinos in Middle East urged not to panic amid MERS-CoV scare
  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • Marketplace