Ayala Land Wins 74-Hectare Taguig Property in Auction

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The property is located in an agro-industrial estate in Taguig City in the metropolitan Manila area.

Ayala Land submitted a bid price of 24.33 billion pesos ($580 million) against a base price of PHP10.24 billion set by the PMO, which is under the supervision of the Department of Finance.

The property is near Fort Bonifacio and the Makati central business district, which have been developed mainly by Ayala Land.

Ayala Land outbid Empire East Land Holdings Inc. (ELI.), which submitted a bid of PHP11.2 billion, and Robinsons Land Corp. (RLC.PH), with a bid of PHP14.666 billion, to win the auction.

http://www.foxbusiness.com/news/2012/08/14/philippines-ayala-land-wins-74-hectare-property-in-government-auction/

Jonas Montemayor
Real Estate Broker
PRC License #: 0007396

Member: Philippine Association of Real Estate Boards – City of Taguig Real Estate Board

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