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ALI firming up partnerships with three firms

Published on 06 May 2013 [ manilatimes.net ]
Written by MADELAINE B. MIRAFLOR REPORTER
Property giant Ayala Land Inc. (ALI) is currently firming up partnerships with different local companies, as it plans to magnify its presence in the tourism and business process outsourcing (BPO) industries.
ALI is currently in partnership with other property developers such as Boulevard Holdings Inc. (BHI), Aboitiz Land Inc. and the Alcantara Group.
Antonino Aquino, president and chief executive officer of ALI, specified that the company is in active discussion with these three property firms regarding tourism and BPO-related projects.
In its partnership with Aboitiz Land, Aquino said that the company plans to jointly acquire a property with the firm to put up a mixed use development in the area, which will be more of a business district than a leisure development.
“Effectively, we would like this to be the third major business district-oriented type of development or more of a city-district type of development,” he said, adding that the plan is to develop more of a Cebu IT park or Cebu Business Park.
He also said that while the company has not determined how many hectares this development would need, this will surely be similar to what was done in projects in Cebu.
Meanwhile, the developer intends to strengthen its presence in the tourism sector with its partnership with the Alcantara Group.
Alcantara Group and Investment Co. (Aldevinco), an investment holding company of the group and one of the leading property developers in Davao City, recently signed a joint venture agreement with ALI for the development of a 25-hectare integrated and mixed-use development community in Lanang District, Davao City.
“It’s more of a leisure type of development. We like the tourism side. With the success we had in any of it will be a replication. That’s exactly what we’re doing,” Aquino said.
“We’ve had a lot of recent announcements starting with Alcantara,” he added.
As for its partnership with BHI, a publicly listed hotel and resorts developer, Aquino said that ALI has an agreement with the firm to talk, and come around with the various required studies they have to do prior to actual due diligence work.
“It will take about four months to be able to complete the actual due diligence,” he said.
Assets that will be determined in the due diligence process are BHI’s property in Ternate, Cavite, and Puerto Azul.
“We are always talking about leisure type of community exactly similar to what we had in Anvaya, something similar to what we will be doing in El Nido. The concept is to come around with those kinds of leisure-type of communities,” Aquino added.
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