Ayala Land invests PHP 2B into venture with Lucio Tan
May 4, 2022
Ayala Land’s investment, to be deployed until the fourth quarter of 2022, was detailed in its reinvestment plan after it raised P3.47 billion via a property for share swap with its real estate investment trust arm, AREIT Inc.
The developer will also spend for land acquisitions in Laguna Technopark Inc. (P750 million), Quezon City (P290.46 million), Cavite (P118.36 million) and Bulacan (125.17 million).
Ayala Land will also spend P110.3 million for a 43-story office in One Vertis Plaza and P70.12 million to build homes in the 49.3-hectare Andacillo project in Laguna.
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