Ayala buys FTI for P24.3B


Executives of Ayala Land Inc. (ALI) led by chairman Fernando Zobel de Ayala on Monday agreed to purchase the 74-hectare FTI property for P24.3 billion from the government in a signing ceremony witnessed by President Aquino in Malacañang.

ALI plans to develop the FTI complex into an integrated mixed-use and business district that will feature retail, dining and entertainment.
“We hope the redevelopment of the FTI complex will lead to a surge in economic activity and increase employment in the city of Taguig and the surrounding metropolitan area,” said Karen Singson, chief privatization officer of the Privatization and Management Office (PMO).

Taken from:


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