Ayala Land has spent nearly half of the P4.6 billion it raised from the sale of its Ortigas office and shopping mall building to AREIT to bulk up its land bank in the middle of the pandemic.
In a report to the Philippine Stock Exchange, Ayala Land reported that it spent a total of P2.16 billion for land acquisitions from January 2021 to January 2022.
Ayala Land snapped up properties in Pampanga (P955 million), Tarlac (428 million), Mandaluyong (P335 million), Cavite (P212 million for two properties), Ilagan (P81.6 million), Laguna (P67 million), Quezon City (P61 million), and Batangas (P20 million).
The real estate giant sold its The 30th office and shopping mall building in Meralco Avenue in Pasig for P5.1 billion.
Here is a full breakdown of how Ayala Land spent its AREIT funds:
1) Pampanga land acquisition P955 million
2) ALI Eton Property Development Parklinks P833 million
3) One Ayala BPO P558.5 million
4) Tarlac land acquisition P427.8 million
5) One Ayala mall P384.7 million
6) Mandaluyong land acquisition P335 million
7) Gatewalk Central retail-office building in Cebu P164 million
8) Cavite land acquisition P135 million
9) Avida Towers Abreeza Tower 1 P119.7 million
10) Arbor Lanes 5 towers in Taguig P97.2 million
11) Orean Place condo in Quezon City P87.3 million
12) Avida Towers Vireo 3 towers in Taguig P83.8 million
13) Ilagan land acquisition P81.6 million
14) Cavite land acquisition P77 million
15) Laguna land acquisition P67 million
16) Quezon City land acquisition P61 million
17) Avida Towers Sola 2 towers in Quezon City P40 million
18) Amaia Steps Alabang Helena low rise condo P36 million
19) Batangas land acquisition P20 million
SOURCE: Bilyonaryo
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