BIZ BUZZ: Ayala in talks to buy back valuable AIM property
Ayala Land Inc. (ALI) may soon get back the land it donated to the Asian Institute of Management (AIM) decades after the business school had been established.
ALI chief financial officer Augusto Bengzon confirmed on Thursday that they were in talks with AIM Foundation to reclaim the 1.1-hectare (ha) land.
READ: AIM launches Master in International Business Law program
AIM was opened in 1968 under a partnership between the country’s biggest business leaders and the Harvard Business School Advisory Group. This makes it older than Greenbelt 1 (Greenbelt Square when it was opened in 1982), which stands right across AIM (and is currently undergoing a facelift).
Although Bengzon did not give a specific teaser as to what ALI would do to this valuable piece of land, he confirmed that negotiations were underway mainly because the school was already looking for a bigger campus.
“We’re negotiating for it,” Bengzon said, adding that the total acquisition would depend on current market prices.
Article continues after this advertisementWe’re on the edge of our seats to know what’s next for AIM—and the 1.1-ha land. —Meg J. Adonis
Article continues after this advertisementArt Fair refresh
If you’ve passed through Ayala Triangle Gardens at least once in the past two weeks, you may have noticed the white tents that sprouted out of nowhere.
Mariana Zobel de Ayala, leasing and hospitality head at ALI, made everything clear for us confused—and intrigued—folk.
The green and open space along Ayala Avenue in Makati City is actually being prepped for its Art Fair Philippines debut in February.
For the first time since one of the most anticipated art events in the country was launched in 2013, it will no longer be mounted at its usual spot: The Link car park at Ayala Center.
READ: Art Fair Philippines’ bold move from the Link carpark to Ayala Triangle for 2025
“The timing couldn’t be better, as we are launching a number of new restaurants in the Triangle,” Zobel said during a media lunch on Thursday at Kazu Cafe, one of the aforementioned new stores.
We repeat: Art Fair PH will be at Ayala Triangle Gardens this year, so don’t get lost. You have 10 days to go, after all.
Apart from the event being held at a different venue, the Ayala Group also offers a new experience for attendees.
This year, Art Fair PH encourages enthusiasts to go on an “art walk” not just at Ayala Triangle, but also at Ayala Malls in Makati and public spaces. This way, appreciation of the country’s artists will be even more experiential. —Meg J. Adonis