Ayala to redevelop Manila Jockey’s Cavite racetrack

/ 03:23 PM July 16, 2019

MANILA, Philippines – The Ayala group has scaled up its footprint in Southern Luzon with a deal to transform the 60-hectare horse-racing complex of Manila Jockey Club Inc. in Carmona, Cavite into a new central business district.


Manila Jockey signed on Tuesday a memorandum of agreement with AKL Properties Inc., an affiliate of Ayala Land Inc., to redevelop the race track. The parties have appointed Ayala Land Inc. as the development manager.

For its part, Manila Jockey will contribute the land in exchange for an economic interest in the master-planned development. This also means that 15 years after relocating its racetrack to Carmona from San Lazaro in Manila, Manila Jockey will have to find a new home for its horse racing operations, while unlocking values from the upsurge in property valuations in this area.


Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: AKL Properties Inc., Carmona, Cavite, f Ayala Land Inc., Manila Jockey Club Inc.
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.