#LeapToReap, Ayala Land Estates set to soar in 2024 inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
Property developer Ayala Land Inc. (ALI) has earmarked some P1.9 billion for its foray into a mixed-use development dubbed Arillo in Batulao in Nasugbu, Batangas. Spanning over 62 hectares, Arillo offers a blend of eco-tourism, sustainable development and luxurious living, the company said. Arillo will be the “premiere eco-tourism and…
Ayala Land s Crossroads estate delivers perfect synergy of convenience, opportunity inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
Published March 17, 2021, 5:30 AM
Property giant Ayala Land, Inc., (ALI) is infusing some identified key commercial properties worth P15.46 billion into AREIT, Inc. under a property-for-share swap transaction.
In a disclosure to the Philippine Stock Exchange, ALI said its Executive Committee has approved the subscription to 483.25 million primary common shares of AREIT at a price of P32.00 per share in exchange for the commercial properties.
ALI said the price has been validated by a third-party fairness opinion and is subject to the approval of AREIT shareholders at their annual meeting on April 23, 2021 and pertinent regulatory bodies.
Meanwhile, ALI said it has reached 91 percent carbon neutrality in its commercial properties and is on track to achieve its target of 100 percent by next year.