Ayala Land to cap year with two more townships
SOURCE:
http://www.bworldonline.com/content.php?section=Corporate&title=ayala-land-to-cap-year-with-two-more-townships&id=108070

PROPERTY GIANT Ayala Land, Inc. (ALI) is launching two more township projects for the rest of the year as the company capitalizes on the strong demand for real estate to boost growth.
Anna Ma. Margarita B. Dy, ALI’s group head for strategic land bank management, said the new large-scale developments are located in Metro Manila and outside the Philippine capital.

“We have two more planned this year but there are certain permitting that needs to happen,” Ms. Dy said in a briefing on May 13.

The vertical township in Metro Manila may have a size of 10 hectares, while the other one will be “a couple of a hundred hectares” in size involving horizontal projects, Ms. Dy added.

The real estate arm of the Ayala group broke ground on two new estates in the first quarter: the P25-billion Cloverleaf in Balintawak, Quezon City and the P6-billion Capitol Central in Bacolod City.

These added to the company’s roster of established estates such as the Makati business district, Cebu Park District, Bonifacio Global City, and Nuvali, as well as emerging ones like Arca South in Taguig City, Vertis North in Quezon City, and Alviera in Pampanga, among others.

ALI is currently in 45 growth centers across the country.

HOMESTARTER BONDS
Likewise, ALI is set to start the construction of its nine-hectare mixed-use development in Aseana City in the fourth quarter.

While the project’s master plan is being refined, the complex will have roughly 200,000 square meters of shopping space, 20,000 square meters of office space for business process outsourcing (BPO) firms and 300 hotel rooms, ALI Senior Vice-President Jose Emmanuel H. Jalandoni said.

“The economy continues to grow. The confidence continues to be quite strong across the board: residential, BPO and tourism, particularly domestic tourism,” ALI President Bernard Vincent O. Dy said.

“We continue to maintain a positive outlook for the rest of the year.”

Under its 2020 Vision, ALI is targeting a 20% annual growth rate to hit a net income of P40 billion.

ALI may raise a maximum of P2 billion from a new tranche of Homestarter bonds in the second or third quarter, said Jaime E. Ysmael, the company’s chief financial officer.

The Homestarter bonds aim to encourage customers to set aside funds for downpayment in the purchase of the real estate firm’s property. — Krista Angela M. Montealegre

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