Ayala Land wins bid to acquire FTI property

August 14, 2012 - Ayala Land, Inc. (ALI) today won the bid for the 74-hectare Food Terminal Inc. (FTI) property, one of the last remaining large parcels of land in Metro Manila that is ready for immediate development.

Given its proximity to C5, SLEX, and the Skyway, ALI will transform this property into another business district and bring all its product lines into the development. This will add to the company's increasing portfolio of business districts, which include Makati, Bonifacio Global City (BGC), Vertis North in Quezon City, and Cebu Park District.

"The property will be the southern gateway into Metro Manila, similar to our Vertis North, our northern gateway development," said ALI Chief Finance Officer Jaime E. Ysmael in a disclosure letter. "With these two developments, we are now well-positioned to capitalize on the development opportunities of these two growth centers, supplemented by the government's planned intermodal transport system. Just as we envision Vertis North to be the first transit-oriented CBD in the north, FTI will serve the same purpose for the south."

Ysmael said the property was acquired at a significant discount to land values in Makati and BGC, which have continued to appreciate over time with the Company's thoughtful masterplanning and continuous development.