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ALI eyes FTI development this year

Published on 17 January 2013
Written by Madelaine B. Miraflor Reporter .[manilatimes.net] 
Ayala Land Inc. (ALI) is looking to develop its recently acquired P24.3- billion Food Terminal Inc. (FTI) property in Taguig City this year, since its master planning for the property has been completed.
“The master planning has already been completed. We already filed our license to sell and we already got it, so we should be starting to sell soon,” Jaime Ysmael, ALI chief financial officer, told reporters during the Circuit Makati opening on Tuesday evening.
He said that initially, ALI would be selling commercial lots.
“The entire master plan has been completed. The commercial lots, we will start selling and then the residential portion. We will do it in phases as well as the commercial component,” he added.
For the residential portion in the 74-hectare FTI property, Ysmael said that Alveo Land and Ayala Land Premier are most likely to develop their high-rise residential developments there.
In 2013, ALI will also be focusing on the development of portion of lands that it acquired in the previous year, such as the FTI property, the Gatchalian-owned property in Valenzuela, and the Sta. Ana property owned by Philippine Racing Club Inc., among others.
“We will focus on the ones we acquired last year. FTI is one of them definitely. And then Circuit [Makati]. We will focus on the bag parcels in trying to accelerate the development and monetize them as soon as possible, while still looking at opportunities to land bank where we do not have a presence or we need to replenish like Nuvali, where the development has been very accelerated. We already stated to replenish some of the inventory,” Ysmael emphasized.
“To be able to sustain the momentum, we have to make sure we have a land bank that will last for a couple of years,” he said. Ysmael added that ALI is planning to tap the bond market for its capital-raising in 2013.
“Definitely at the Ayala Land level, the parent company level, we will be tapping the capital markets. Bonds primarily,” he said.
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