Ayala to redevelop Manila Jockey’s Cavite racetrack

Ayala to redevelop Manila Jockey’s Cavite racetrack

By: - Business Features Editor / @philbizwatcher
/ 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.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: AKL Properties Inc., Carmona, Cavite, Manila Jockey Club Inc.

© Copyright 1997-2024 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.