Ayala Land cashes in on FTI

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Property giant Ayala Land Inc. has started to unlock values from the Food Terminal Inc. property in Taguig City, now called “Arca South,” selling a number of commercial lots to ignite development in the 74-hectare landbank it acquired from the government last year.

In a briefing last week, ALI chief finance officer Jaime Ysmael said ALI sold about 17 commercial lots in varying sizes—typically ranging between 2,500 and 3,000 square meters—based on a headline price of P150,000 to P155,000.

“It’s intended not only to generate liquidity and monetize part of what we paid for FTI but, at the same time, accelerate the rate of development … this is what we’ve been doing in previous developments,” Ysmael said.

Taken from:

http://business.inquirer.net/107969/ayala-land-cashes-in-on-fti

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