AyalaLand unit buys industrial park in Batangas
Industrial estate developer AyalaLand Logistics Holdings Corp. (ALLHC) has expanded its footprint in its Southern Luzon bailiwick with the P1.24-billion acquisition of a property with ready-built 64,000-square meter leasable space in Sto. Tomas, Batangas.
This investment marks the group’s first industrial property in Batangas. ALLHC’s industrial estates in Southern Luzon are in Laguna and Cavite.
In a disclosure to the Philippine Stock Exchange on Monday, ALLHC disclosed that its subsidiary, Ecozone Power Management Inc. (Epmi), signed a deal to acquire the facility and the land on which it stands from Shen Long Property Management Inc. and Aibis Land Management Inc.
“This transaction strengthens ALLHC’s vision to be the leading real estate logistics and industrial parks developer and operator in the Philippines,” the disclosure said.
Epmi will assume ownership of the ready-built facility, which currently serves companies in the manufacturing and logistics industries, and continue its operation under the ALLHC group’s warehouse leasing brand, ALogis. It will be renamed ALogis Sto. Tomas.
The facility, which is accredited by the Philippine Economic Zone Authority, stands on a 96,980-sqm land within the Light Industry & Science Park III. The site is accessible from Metro Manila via the South Luzon Expressway and the Southern Tagalog Arterial Road from Batangas City.
Doubling the footprint
With this additional property, ALLHC’s portfolio has increased to 288,000 sqm.
ALLHC’s goal is to establish its presence in 10 strategic areas across the country by 2025, thus doubling its current nationwide footprint. It is targeting to scale up the gross leasable area of its warehouse facilities to 500,000 sqm.
New growth drivers are seen to come from new platforms in cold storage and data centers.
For the nine-month period ending September last year, ALLHC’s consolidated revenues came in at P2.6 billion, 12-percent higher year-on-year. Consolidated net income was at P402.3 million, 117-percent higher than the previous year.
The company is currently valued by the stock market at P34.34 billion. INQ