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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