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Alphaland in talks to sell Makati building

Posted on August 05, 2013 10:47:00 PM [ BusinessWorld Online ]
PROPERTY DEVELOPER Alphaland Corp. is currently in talks with various “interested parties” for the sale of one of its key properties in Makati City, the company said in a disclosure yesterday.
Commenting on a news article yesterday that it was in talks particularly with the Philippine Long Distance Telephone Co. (PLDT), Alphaland said in its disclosure: “… the company, through its subsidiary, Alphaland Development, Inc., is… in talks with several interested parties, including PLDT, for the sale of Alphaland Tower.”
PLDT confirmed the report in a separate disclosure yesterday.
Both companies, however, said they have yet to reach a “definitive agreement.”
The Alphaland Tower, which is located along Ayala Avenue in Makati City’s central business district, is a 34-storey building with a floor area of 48,000 square meters, according to the company’s Web site.
Yesterday, shares of Alphaland gained P1 or 2.22% to close at P46 apiece from P45 on Friday last week, while those of PLDT added P8 or 0.26% to P3,082 each from P3,074. -- ENJD  
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