Posted on June 17, 2014 10:17:06 PM [
BusinessWorld Online ]
DAVAO CITY -- Ayala Land, Inc. (ALI)
has entered into a tie-up with Alsons Development and Investment Co. to convert
an 11-hectare former plywood manufacturing complex north of Davao City proper
into a mixed-use development, a city official said.
Ivan C. Cortez, acting head of the Davao City Investment Promotion
Center, made the announcement after the proponents presented before his agency
an initial development plan.
Although he did not comment on the
project details, Eric D. dela Costa, a vice-president with Alsons Property,
Inc., confirmed the Ayala Land tie-up to BusinessWorld.
Mr. Cortez said the project will
contain office, residential, commercial and tourism components, with the latter
included because the property has a shoreline. -- Carmelito Q. Francisco
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