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February 18, 2017

Ayala Land is looking for 20 hectares for Estate Development in Davao

Aerial view of Brgy.Tigatto and Brgy. Waan in Davao City  Photo credit to Google Map.

This is an excerpt of the article from Business World for Ayala Land.

In addition, the company will open its largest Seda Hotel in Quezon City and first resort-type accommodation under the homegrown brand within its Lio estate in El Nido, Palawan, following the launch of Casa Kalaw in El Nido and Balay Kogon in Sicogon, Iloilo in 2016.

Ayala Land is looking to launch two more estate developments spanning 20 hectares in Davao and 35 hectares in Pasig City alongside.

“A bulk of that (capital spending) will be funded by internally generated cash, while P15 billion to P20 billion will be in debt -- less than what we went out last year,” Ayala Land Treasurer and Deputy Chief Finance Officer Augusto Cesar D. Bengzon said.

Ayala Land tapped the fixed-income market four times in 2016, issuing corporate and homestarter bonds cumulatively worth P25 billion from a three-year shelf offering approved in March that year.

“We’re studying our options more closely. I think the bond market is our base case scenario,” Mr. Bengzon said, noting that Ayala Land may explore the potential of issuing corporate notes and other financing opportunities.

Shares in the company closed 40 centavos or 1.12% higher at P36 apiece on the Philippine Stock Exchange on Wednesday, bucking a general downtrend in the market.

Read the source here

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