Ayala to pour in P2B in Cebu

Thursday, April 29, 2010 [ sunstar.com.ph ]

By Katlene O. Cacho

THE Ayala Group of Companies is allocating P2 billion for capital expenditures (capex) for Cebu starting this year.

The capex is meant to fund the major developments of the company in its residential, office and retail businesses in Cebu.

“The firm will redouble its efforts to take advantage of the opportunities brought by the country’s recovering economy,” said Francis Monera, president of Cebu Holding, Inc. (CHI), during the firm’s annual stockholders meeting yesterday.

CHI is a publicly listed company engaged in real property ownership, development, marketing and management. It is an affiliate company of Ayala Land Inc.

Monera said the company will launch this year three residential units, a business process outsourcing project and a mall re-development project.

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