PROPERTY giant Ayala Land, Inc. has formed a new subsidiary to handle its hotel and resort business, documents showed.
The Securities and Exchange Commission approved the articles of incorporation of Ayala Hotels and Resort Corp. last Sept. 21. The firm has authorized capital of P1.175 billion divided into 235 million shares.
The corporate regulator allowed the firm “to acquire and own, hold, use, sell, assign, manage, deal, transfer or otherwise dispose of real and personal property ... and engage in the general business of a hotel, apartment hotel, inn, resort, restaurant, café, bar, entertainment and other allied business.”
It can also acquire land and buildings, and undertake necessary improvements.
Ayala Land first ventured into the resort and leisure segment in 2007, with the P4-billion development of the 320-hectare Anvaya Cove in Bataan. It was followed by the 46-hectare Amara development in the municipality of Liloan in Cebu.
Last year, Ayala Land signed a deal with the government to develop a 7.5-hectare lot within the Subic Bay Freeport Zone. The firm is also in a joint venture to develop parts of the El Nido Resort in Palawan.
The 50-year lease agreement with the Subic Bay Metropolitan Authority will involve the development of a property on Rizal Highway or between the two main gates linking the free port zone to Olongapo City.
Ayala Land will invest P3 billion for the development of hotels, retail spaces, and business process outsourcing offices. Some 10,000 jobs will be generated by the venture.
Ayala Land subscribed to P1.17 billion in shares of the new unit.
Shareholders Antonino T. Aquino, Jose Emmanuel H. Jalandoni, Emilio J. Tumbocon, Michael Alexis C. Legaspi and Ma. Luisa D. Chiong paid P1 each.
Shares in Ayala Land, whose profits jumped by 34% to P2.51 billion in the first half, shed 1.85% or P0.32 to close at P17.30 apiece yesterday.
Source: Businesworld, 19 October 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
Tuesday, October 19, 2010
Wednesday, October 6, 2010
Ayala Land beefs up property
Just as it promises to launch more projects to ride the wave of market revival, property developer Ayala Land, Inc. (Ayala Land) is also beefing up its manpower tasked with maintaining its developed properties.
Jorge T. Marco, Ayala Land investor relations head, told Malaya Business Insight that the company’s current head count of employees detailed for asset management is only enough for buildings and properties that the company already have. Expansion of developments would require additional hands.
"We need people for administration and property management. The more projects going up, the more that we need additional people," said Marco.
"In every vertical project that we build, we handle the management of that building," he added.
Marco failed to reveal how many additional staff Ayala Land needs but stressed that as the company builds, it will hire more people.
Ayala Land chief finance officer Jaime Ysmael earlier said that the company is ramping up its project launch of residential projects to 12,000 from the original plan of 9,275 units "driven by strong take-up of units."
Ysmael noted that the industry has become "quite good" that it has led many developers to launch lots of projects.
"Everybody accelerated because of good take up," he said adding, "we have accelerated to a certain extent."
The increase however does not require additional investment by the company, said Ysmael, adding that the cashflow from existing projects is enough to cover for the needed cash of the expansion.
The expansion of manpower is also seen by some in the market as Ayala Land ’s way of keeping assets in shape as it eyes to fold properties into the real estate investment trust being cooked up in the financial market.
Ayala Land recently incorporated unit Ayala Land Commercial REIT Inc. (ALCRI) which will serve as the company’s vehicle into the REIT.
The P1.2 billion company "will own and select investment properties for long-term investment" which will include mature assets like shopping center and office assets currently under Ayala Land ’s portfolio, the company earlier said.
Ayala Land said these assets will have recurring income streams and stable occupancy rates.
Aside from folded assets, ALCRI will also look for acquisition opportunities of additional high quality assets that will further enhance and grow its portfolio.
Out of ALCRI’s authorized capital of P1.2 billion, P300 million was subscribed and paid up.
Ayala Land previously expressed its intention to participate in the REIT industry, eyeing to raise about $300 million in new funds.
Tapped as underwriters for the REIT were investment banks JPMorgan and UBS, for the foreign offering, while BPI Capital has been tapped for the local counterpart.
Source: Business Insight Malaya, 06 October 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
Jorge T. Marco, Ayala Land investor relations head, told Malaya Business Insight that the company’s current head count of employees detailed for asset management is only enough for buildings and properties that the company already have. Expansion of developments would require additional hands.
"We need people for administration and property management. The more projects going up, the more that we need additional people," said Marco.
"In every vertical project that we build, we handle the management of that building," he added.
Marco failed to reveal how many additional staff Ayala Land needs but stressed that as the company builds, it will hire more people.
Ayala Land chief finance officer Jaime Ysmael earlier said that the company is ramping up its project launch of residential projects to 12,000 from the original plan of 9,275 units "driven by strong take-up of units."
Ysmael noted that the industry has become "quite good" that it has led many developers to launch lots of projects.
"Everybody accelerated because of good take up," he said adding, "we have accelerated to a certain extent."
The increase however does not require additional investment by the company, said Ysmael, adding that the cashflow from existing projects is enough to cover for the needed cash of the expansion.
The expansion of manpower is also seen by some in the market as Ayala Land ’s way of keeping assets in shape as it eyes to fold properties into the real estate investment trust being cooked up in the financial market.
Ayala Land recently incorporated unit Ayala Land Commercial REIT Inc. (ALCRI) which will serve as the company’s vehicle into the REIT.
The P1.2 billion company "will own and select investment properties for long-term investment" which will include mature assets like shopping center and office assets currently under Ayala Land ’s portfolio, the company earlier said.
Ayala Land said these assets will have recurring income streams and stable occupancy rates.
Aside from folded assets, ALCRI will also look for acquisition opportunities of additional high quality assets that will further enhance and grow its portfolio.
Out of ALCRI’s authorized capital of P1.2 billion, P300 million was subscribed and paid up.
Ayala Land previously expressed its intention to participate in the REIT industry, eyeing to raise about $300 million in new funds.
Tapped as underwriters for the REIT were investment banks JPMorgan and UBS, for the foreign offering, while BPI Capital has been tapped for the local counterpart.
Source: Business Insight Malaya, 06 October 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
ALI starts construction of 1st BPO campus in Negros
MANILA, Philippines - Property giant Ayala Land Inc. (ALI) has started the construction of its first business process outsourcing (BPO) campus in Talisay, Negros Occidental – Ayala North Point TechnoHub – with the first phase slated for completion in the first quarter of 2011.
The initial phase of Ayala North Point Technohub will involve the construction of the first two-story building with approximately 4,500 square meters of gross leasable area.
When completed, the campus will consist of several low-rise BPO facilities with a total gross leasable area of approximately 40,000 square meters, supported by a retail component on the ground floor of each office building, all within a 215-hecatare property that ALI is developing in the city.
“We are immensely pleased that we continue to increase our presence here in Talisay City. This is in line with Ayala Land’s growth strategy to bring our developments across the country through the creation and development of sustainable communities, and Talisay is one of the major growth centers Ayala Land would like to have a strong presence in,” ALI senior vice president Marivic Añonuevo said.
ALI’s existing residential projects in Talisay include Ayala North Point, Verdana Homes Plantazzione and Verdana Homes Asyana.
Añonuevo said the project brings the success of the company’s existing environment-friendly office developments such as the UP-AyalaLand TechnoHub in Quezon City and One Evotech in Nuvali, Sta. Rosa, Laguna to the Talisay community.
Upon full completion, the BPO campus is expected to generate more than 15,000 jobs for the local community from the BPO offices, retail establishments and support maintenance services.
Source: Philippine Star, 06 October 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
The initial phase of Ayala North Point Technohub will involve the construction of the first two-story building with approximately 4,500 square meters of gross leasable area.
When completed, the campus will consist of several low-rise BPO facilities with a total gross leasable area of approximately 40,000 square meters, supported by a retail component on the ground floor of each office building, all within a 215-hecatare property that ALI is developing in the city.
“We are immensely pleased that we continue to increase our presence here in Talisay City. This is in line with Ayala Land’s growth strategy to bring our developments across the country through the creation and development of sustainable communities, and Talisay is one of the major growth centers Ayala Land would like to have a strong presence in,” ALI senior vice president Marivic Añonuevo said.
ALI’s existing residential projects in Talisay include Ayala North Point, Verdana Homes Plantazzione and Verdana Homes Asyana.
Añonuevo said the project brings the success of the company’s existing environment-friendly office developments such as the UP-AyalaLand TechnoHub in Quezon City and One Evotech in Nuvali, Sta. Rosa, Laguna to the Talisay community.
Upon full completion, the BPO campus is expected to generate more than 15,000 jobs for the local community from the BPO offices, retail establishments and support maintenance services.
Source: Philippine Star, 06 October 2010
For details on the Real Estate Service Act or RESA Law > www.ra9646.com
Avida Towers Cebu in Asiatown Park
Avida Land launches second tower at Cebu’s Asiatown park
CEBU CITY -- Avida Land Corp. launched its second residential tower within Asiatown IT Park, just three months after it broke ground for the project and launched the first tower.
The second of two towers that comprise the P1.2-billion Avida Towers Cebu will offer more garden units, said Ryan L. Ybañez, project development associate manager. Tower 1 was launched in July and in less than four months, over 90% of the 518 units have been taken.
While the two towers are under construction, Avida Land is aggressively scouting for properties that could be developed, and planning the establishment of an office to serve the growing Visayas market.
“We’re looking at setting up a branch in Cebu to cater to the fast growth in the Visayas. Our land acquisition group is also scouting for properties right now for other projects,” Mr. Ybañez said.
New projects could either be another condominium development or a “horizontal” development with house-and-lot packages. By the fourth quarter of this year, Avida will also launch house-and-lot developments in Bacolod City in Negros Occidental and Pavia town in Iloilo, both in Western Visayas region.
At Asiatown IT Park, the 25-storey Avida Towers Cebu will be completed in 2013, Mr. Ybañez said. The first tower is slated for completion in the third quarter of 2013 while the second will follow in the fourth quarter of the same year.
Both towers offer studio, one-bedroom units, and two-bedroom units that will be telephone, cable and Internet-ready. Each unit will also be equipped with a fire protection system. Amenities for both towers include adult and children’s swimming pools, a clubhouse with a function room, a children’s play area, an outdoor gym, a garden area and a jogging path.
Avida Towers Cebu is the first project of Avida Land, a wholly owned subsidiary of Ayala Land, Inc., outside Luzon. It is a joint venture project with Asian I-Office Properties, Inc., a subsidiary of Ayala-led Cebu Property Ventures and Development Corp.
The project is located within Asiatown IT Park, a 29-hectare cyberpark developed by Cebu Property Ventures which hosts about 70% of the business process outsourcing companies operating in Cebu and employs about 13,000 workers.
For details on Avida Towers Cebu, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Businessworld, 06 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
CEBU CITY -- Avida Land Corp. launched its second residential tower within Asiatown IT Park, just three months after it broke ground for the project and launched the first tower.
The second of two towers that comprise the P1.2-billion Avida Towers Cebu will offer more garden units, said Ryan L. Ybañez, project development associate manager. Tower 1 was launched in July and in less than four months, over 90% of the 518 units have been taken.
While the two towers are under construction, Avida Land is aggressively scouting for properties that could be developed, and planning the establishment of an office to serve the growing Visayas market.
“We’re looking at setting up a branch in Cebu to cater to the fast growth in the Visayas. Our land acquisition group is also scouting for properties right now for other projects,” Mr. Ybañez said.
New projects could either be another condominium development or a “horizontal” development with house-and-lot packages. By the fourth quarter of this year, Avida will also launch house-and-lot developments in Bacolod City in Negros Occidental and Pavia town in Iloilo, both in Western Visayas region.
At Asiatown IT Park, the 25-storey Avida Towers Cebu will be completed in 2013, Mr. Ybañez said. The first tower is slated for completion in the third quarter of 2013 while the second will follow in the fourth quarter of the same year.
Both towers offer studio, one-bedroom units, and two-bedroom units that will be telephone, cable and Internet-ready. Each unit will also be equipped with a fire protection system. Amenities for both towers include adult and children’s swimming pools, a clubhouse with a function room, a children’s play area, an outdoor gym, a garden area and a jogging path.
Avida Towers Cebu is the first project of Avida Land, a wholly owned subsidiary of Ayala Land, Inc., outside Luzon. It is a joint venture project with Asian I-Office Properties, Inc., a subsidiary of Ayala-led Cebu Property Ventures and Development Corp.
The project is located within Asiatown IT Park, a 29-hectare cyberpark developed by Cebu Property Ventures which hosts about 70% of the business process outsourcing companies operating in Cebu and employs about 13,000 workers.
For details on Avida Towers Cebu, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Businessworld, 06 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
Saturday, October 2, 2010
Ayala Land’s Lerato Tower gets tax break
The Board of Investments (BOI) has granted a three-year income tax holiday to Lerato Tower 1, a P816-million housing development of Ayala Land Inc.’s unit Alveo Land Corp. at the heart of Makati.
Located at Malugay St., Bel-Air, Makati City, Lerato Tower 1 involves the development of 9,813 square meters of land and the constructiom of a 30-storey condominium comprising 420 low-cost or economic housing units with a package price of P3 million each.
This is considered "low-cost" based on the definition of the Housing an Urban Development Coordinating Council of over P400,000 to P3 million.
Low-cost housing is one of the preferred activities under infrastructure under the BOI’s Investment Priorities Plan. However, since Lerato Tower 1 is located in the national capital region, its income tax holiday is limited to three years instead of four given to areas that are less served.
This is Alveo’s second housing project in Makati to be registered with the BOI. It registered another mass housing project, Celadon Park Tower 2 in Felix Huertas, Sta. Cruz, Manila. Its other Makati project but considered very high end is The Columns at Amorsolo st., Legaspi Village. Lerato Tower 1 starts commercial operations in November and will employ 430.
For details on Lerato Tower, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insight, 02 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
Located at Malugay St., Bel-Air, Makati City, Lerato Tower 1 involves the development of 9,813 square meters of land and the constructiom of a 30-storey condominium comprising 420 low-cost or economic housing units with a package price of P3 million each.
This is considered "low-cost" based on the definition of the Housing an Urban Development Coordinating Council of over P400,000 to P3 million.
Low-cost housing is one of the preferred activities under infrastructure under the BOI’s Investment Priorities Plan. However, since Lerato Tower 1 is located in the national capital region, its income tax holiday is limited to three years instead of four given to areas that are less served.
This is Alveo’s second housing project in Makati to be registered with the BOI. It registered another mass housing project, Celadon Park Tower 2 in Felix Huertas, Sta. Cruz, Manila. Its other Makati project but considered very high end is The Columns at Amorsolo st., Legaspi Village. Lerato Tower 1 starts commercial operations in November and will employ 430.
For details on Lerato Tower, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insight, 02 October 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
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