By Jenniffer
B. Austria | Posted on May. 07, 2013 at 12:02am
[
manilastandardtoday.com ]
Ayala Land
Inc., the country’s biggest property company, said Monday it expects to finalize
the acquisition of a portion of the 3,000-hectare Puerto Azul property from
Boulevard Holdings Inc. of the Panlilio family over the next four months.
Ayala Land
president Antonino Aquino said the company was interested in just a portion of
Puerto Azul in Ternate, Cavite province. He said Ayala Land could transform the
property into another leisure and resort facility similar to Anvaya Cove in
Subic and El Nido in Palawan.
“We just had
an agreement to talk and come around with the various required studies we had
to do prior to actual due diligence work. It will take about four months to be
able to complete the actual due diligence,” Aquino said.
Aquino said
the two parties had not reached an agreement on whether Ayala Land would
acquire part of the Puerto Azul property or the two would form a joint venture
to jointly develop the project.
But Aquino
said Ayala Land was keen on transforming the property into a leisure-oriented
project.
“We have
always been talking about leisure-type communities, exactly similar to what we
have in Anvaya [Cove], and something like what we will be doing in the El Nido
Resort area, so the concept is really to be able to come around with those type
of leisure-oriented communities,” Aquino said.
Ayala Land
last month said it agreed to acquire some properties owned by BHI.
Ayala Land in
Bataan has teamed up with Subic Bay Development and Industrial Estate Corp. to
develop a 320-hectare leisure project, called Anvaya Cove. It also operates 150 island resort rooms in Lagen,
Miniloc and Apulit Island, formerly Club Noah.
Ayala Land
earlier said it planned to double its landbank for tourism-related projects to
1,000 hectares over the next two to three years as the country aims for higher
tourist arrivals.
The company
this year earmarked P65.5 billion in capital expenditures, including P20
billion for land acquisition.
Ayala Land
has teamed up with Aboitizland Inc. to develop properties in Cebu. It also
entered into joint venture agreement with the Gaisano group to develop a
12-hectare land in Mactan, Cebu.
Aquino said
the company was forging tie-ups in line with its plan to develop in-city
projects in major cities in the country.
BHI was
established in 1994 as a holding company with primary interests in the
development of hotels and resorts and tourism-related businesses and
investments in strategic land locations and rentable real estate properties.
___________________________________________________________
