Ayala group sets P185B capex

The Ayala group has set a larger capital expenditure budget of P185 billion this year primarily to expand its real estate, telecommunications and water units as well as ramp up its emerging businesses in power, industrial technologies, healthcare and education.

This year’s capital spending budget is 13 percent higher than the Ayala group’s outlays last year.

A large portion of this amount will go to Ayala Land, which has budgeted P88 billion this year mainly to bankroll the completion of its residential, office for sale and leasing projects.

Another significant driver of the conglomerate’s capital spending plan this year is Globe Telecom, which has allocated P37.5 billion to drive its data network infrastructure upgrades, including expenditures for deployments of LTE mobile and home broadband, expansion of network capacities and coverage, and enhancement of corporate data services.