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Ayala buys FTI for P24.3B

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Fernando Zobel de Ayala . INQUIRER FILE PHOTO

After lying idle for years,  the sprawling Food Terminal Inc. (FTI )complex in Taguig City will soon be developed into a commercial business district.

Executives of Ayala Land Inc. (ALI) led by  chairman Fernando Zobel de Ayala on Monday agreed to purchase the 74-hectare FTI property for P24.3 billion from the government in a signing ceremony witnessed by President Aquino in Malacañang.

ALI plans to develop the FTI complex into an integrated mixed-use and business district that will feature retail, dining and entertainment.

“We hope the redevelopment of the FTI complex will lead to a surge in economic activity and increase employment in the city of Taguig and the surrounding metropolitan area,” said Karen Singson, chief privatization officer of the Privatization and Management Office (PMO).

Proceeds of the sale will be used to finance the Department of Agriculture’s agriculture and fisheries modernization program and projects of the Department of Agrarian Reform, Singson said.

“The development of what will be the next premiere CBD of Metro Manila is another milestone that we are very pleased to be embarking on,” said ALI president and CEO Antonino Aquino who signed for the company.

The PMO had set a floor price of P10.2 billion for the property. At least seven parties had expressed interest in one of the biggest industrial complexes in Metro Manila.

ALI bested the bids of Robinsons Land (P14.7 billion) and Empire East (P11 billion), the Presidential News Desk said.

Located along the South Luzon Expressway, FTI is envisioned to become a key pivotal convergence point and southern gateway to Metro Manila.

The new ALI development will showcase the largest “intermodal transport system” linking various types of transit options to facilitate commuting from various points. The planned Integrated Transport System project of the Department of Transportation and Communication will be set up adjacent to the FTI property and will be linked to the Philippine National Railway station in the area.

Also present at the ceremony were Finance Secretary Cesar Purisima, who signed for the government, Public Works Secretary Rogelio Singson, FTI president Rene Fuentes and Taguig City Mayor Ma. Laarni Lopez-Cayetano.


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  • iping2sison

     “Proceeds of the sale will be used to finance the Department of
    Agriculture’s agriculture and fisheries modernization program and
    projects of the Department of Agrarian Reform, Singson said”.  The government should publish in widely-circulated newspapers the plan and implementation of the proceeds. How much is allocated to DA and DAR? Both agencies should report to the public by publishing how, where, when, whom and which projects are funded, implemented and report on the outcome of these projects.  

  • joboni96

    tuloy ang pangingibabaw
    ng mga kastinoy

    nawalan na naman ng lupa
    ang mga indios

    di naman dumadami lupa

    pero may kumitang indio
    sa komisyon

  • justice_league03

    is our government losing money? why do they keep on selling properties to their number one customers, the Ayalas? whats more scary about this is we dont know if the money is really being used for it’s supposed purpose.

    • http://pulse.yahoo.com/_JEMNLLYAP5EA7SM3A6QUOGV62Q Chris

      why sell? coz we need funds to fund the budget gap.. and minimize borrowings.
      number one customers – Ayala? They just won the bid.. it’s a bidding process.
      what’s scary? don’t make some assumptions right away.

  • d2yan

    The bid price is MORE than TWICE the floor price, and 65% HIGHER than Robinsons. That shows the faith of business to the economy. 
     More importantly, the money will be used for strategic projects of the government.  Thanks to Ayala.  God bless!

  • amanda leigh

    cguro ipagbibili din niya ang naia at pal para irelocate ang airport sa pampanga. done deal

  • http://www.facebook.com/lolo.mo.73997 Lolo Mo

    This is a big blunder for the Ayalas. The site is very close to our International Airport, and there are restrictions on how high the buildings should be. Besides, why did PNoy sold the FTI. Etong mga Chinese sa gobyerno natin, wala talagang planong pabutihin ang buhay ng mga Pinoy. That 106 hectares could have been an alternate site for our informal settlers (squatters). Ang trato ni PNoy, a Chinese, e baliwala ang buhay ng mga Pilipino. Yan ang resulta sa pag boto natin sa isang Chinese. They are trying to marginalize the Filipino populace. Kung hindi ka papatayin sa gutom, tataasan nila ang buwis para makuha nila ang lupa mo pag di ka nakabayad. That is their strategy.

    • d2yan

      Lo, yon pong Ayala mga Spanish po yon.  Yon pong natalong Robinson at Empire East ay mga Chinese.  Mali ho yata yong comment nila.

      • http://pulse.yahoo.com/_AC2HWCGGIE4LEWWXHJM7IK7W6Y Basher

        Di po si Henry Sy, Lucio Tan o Gokongwei nakabili, Si AYALA po. Spanish po yan. 

    • sigena

      para gobyerno meron na pambayad sa hacienda luisita

    • glg_ph

      masaya ka, informal settlers patirahin sa fti?



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