Inquirer
Ayala Land gets ‘premium’ P13.5-B deal for Alabang Town Center
Ayala Land, Inc. (ALI) has agreed to sell its 50% stake in Alabang Commercial Center Corporation (ACC), the owner and operator of Alabang Town Center, to its joint-venture partner, the Madrigal family, for P13.5 billion.
ALI stated that the unsolicited offer included a premium, enabling the company to book gains from the sale.
The proceeds will be used to fund the expansion of ALI's leasing portfolio, which includes nearly 700,000 square meters of new gross leasable area in the next five years.
Company president Meean Dy stated that their strategy focuses on a dynamic cycle of value creation, which involves building, stabilizing, and unlocking value at the right time to fuel innovation.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Rockwell Land Corporation, a property firm of the Lopez family, has acquired a nearly 75% stake in Alabang Commercial Corporation (ACC), the owner of Alabang Town Center, for P21.6 billion from the Madrigal family.
Read more →
Rockwell Land has confirmed it is in discussions with the Madrigal family for the potential redevelopment of Alabang Town Center.
Read more →