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Showing posts with label Ayala Land Inc. Show all posts
Showing posts with label Ayala Land Inc. Show all posts
Tuesday, May 6, 2014
Ayala unit raises $300M from bond sale
A unit of Ayala Corp (AC) has completed the sale of bonds that can be exchanged for shares in the conglomerate's property arm.
In a disclosure to the Philippine Stock Exchange, AC said AYC Finance Ltd listed the $300 million worth of bonds due 2019 in the Singapore Exchange on Monday.
The bonds, carrying an interest rate of 0.5 percent per year, will be exchangeable to common shares of Ayala Land Inc (ALI) at P36.48 per share starting June 11 until the tenth day prior to its May 2, 2019 maturity date.
The issuance will not result in a dilution of ownership in ALI because the shares to be exchanged will come from the conglomerate's stake in the real estate firm.
AC’s holdings in the property company will fall to 46.5 percent from 49 percent if all bondholders will exchange their debt for shares in ALI.
The offering is the first equity-linked international issuance by a Philippine issuer in the past two years. It has also achieved the lowest cost of financing across Asia ex-Japan in 2014.
The Ayala group intends to use proceeds from the issuance for general corporate purposes and investments, particularly those at the parent level.
AC's consolidated net income jumped 22 percent to P12.8 billion last year, faster than the 14 percent expansion to P10.50 billion in 2012, on the strength of its real estate and banking businesses.
AC also has interests in Bank of the Philippine Islands, Globe Telecom, Manila Water, Integrated Micro-Electronics Inc, and business process outsourcing firm LiveIt.
- Interaksyon
Wednesday, April 23, 2014
Ayala Land unveils 5-year plan to convert former FTI property into business district
Ayala Land Inc (ALI) today unveiled a five-year plan to convert the former Food Terminal Inc complex into the company's latest central business district and gateway to Metro Manila from the south.
In a briefing, ALI vice president Meean Dy said the company is investing P80 billion over a five-year period to develop the first phase of the 74-hectare Arca South, consisting of 870,000 square meters of gross floor area evenly split between residential and commercial use.
The first phase of Arca South will house 3,645 residential units from the AyalaLand Premier, Alveo and Avida brands; nine office buildings catering to business process outsourcing companies; three retail centers; a 200-room Seda Hotel; and a 250-bed QualiMed hospital.
Upon completion, Arca South will accommodate as many as 60,000 residents and 400,000 office workers.
ALI has sold 19 lots ranging from P160,000 to P200,000 per square meter to assist the property company in priming the mixed-use project. The lots are valued at a combined P9-10 billion.
"Arca South is different from various products we developed in the past. All product lines will develop at the same time. We will come in very big in this project that's why we're allocating P80 billion of our funds in this project alone," said Jun Bisnar, ALI vice president and head of operation for Arca South.
Located near the southern ends of major thoroughfares EDSA and C5 and right along the South Luzon Expressway, Arca South is in close proximity to the government’s Southeast Intermodal Transport System (ITS) project, a central station for all provincial buses carrying passengers to and from Laguna, Batangas, Quezon and Bicol. The terminal is expected to accommodate an estimated 4,000 buses and 200,000 commuters a day.
AyalaLand Premier's Arbor Lanes will be the first residential project in Arca South, comprising five blocks of 13-15 storey condominiums. The sprawling garden community will have a total of 1,100 units, with the first block offering 208 units at an average size of 108 square meters, generating P3.5 billion in sales. Turnover has been set to begin in the first quarter of 2018.
Upper-middle brand Alveo expects P9.2 billion in sales from 900 units, while affordable brand Avida targets P5 billion from 1,600 units.
Arca South will have its own version of Bonifacio High Street, a lifestyle mall, and a transit-oriented mall that will be linked to the Southeast ITS project. For a complete shopping experience, ALI will open a regional mall with 150,000 square meters of leasable space.
The lifestyle mall will open in the fourth quarter of 2017 with the bigger mall slated to open three years after.
Nine towers with a gross leasable area of 200,000 square meters will be launched within the next five years, with two expected to be operational by 2017.
The 250-bed QualiMed hospital is set to start offering highly specialized medical treatment by late 2017 or 2018. Around that time, the Seda Hotel will open its doors to the public.
Called a "city in sync," Arca South will be a modern business district equipped with a 24/7 operations center for efficient traffic and road management, and real-time alerts and emergency response. Integrated basement parking will be built to facilitate smoother vehicular flow above and below ground of Arca South, while energy-efficient programs will be instituted.
With the first phase comprising only a fourth of the 74-hectare property, it may take about 15-20 years to develop the entire complex, which the company secured in August 2012 from a government auction.
- Interaksyon
In a briefing, ALI vice president Meean Dy said the company is investing P80 billion over a five-year period to develop the first phase of the 74-hectare Arca South, consisting of 870,000 square meters of gross floor area evenly split between residential and commercial use.
The first phase of Arca South will house 3,645 residential units from the AyalaLand Premier, Alveo and Avida brands; nine office buildings catering to business process outsourcing companies; three retail centers; a 200-room Seda Hotel; and a 250-bed QualiMed hospital.
Upon completion, Arca South will accommodate as many as 60,000 residents and 400,000 office workers.
ALI has sold 19 lots ranging from P160,000 to P200,000 per square meter to assist the property company in priming the mixed-use project. The lots are valued at a combined P9-10 billion.
"Arca South is different from various products we developed in the past. All product lines will develop at the same time. We will come in very big in this project that's why we're allocating P80 billion of our funds in this project alone," said Jun Bisnar, ALI vice president and head of operation for Arca South.
Located near the southern ends of major thoroughfares EDSA and C5 and right along the South Luzon Expressway, Arca South is in close proximity to the government’s Southeast Intermodal Transport System (ITS) project, a central station for all provincial buses carrying passengers to and from Laguna, Batangas, Quezon and Bicol. The terminal is expected to accommodate an estimated 4,000 buses and 200,000 commuters a day.
AyalaLand Premier's Arbor Lanes will be the first residential project in Arca South, comprising five blocks of 13-15 storey condominiums. The sprawling garden community will have a total of 1,100 units, with the first block offering 208 units at an average size of 108 square meters, generating P3.5 billion in sales. Turnover has been set to begin in the first quarter of 2018.
Upper-middle brand Alveo expects P9.2 billion in sales from 900 units, while affordable brand Avida targets P5 billion from 1,600 units.
Arca South will have its own version of Bonifacio High Street, a lifestyle mall, and a transit-oriented mall that will be linked to the Southeast ITS project. For a complete shopping experience, ALI will open a regional mall with 150,000 square meters of leasable space.
The lifestyle mall will open in the fourth quarter of 2017 with the bigger mall slated to open three years after.
Nine towers with a gross leasable area of 200,000 square meters will be launched within the next five years, with two expected to be operational by 2017.
The 250-bed QualiMed hospital is set to start offering highly specialized medical treatment by late 2017 or 2018. Around that time, the Seda Hotel will open its doors to the public.
Called a "city in sync," Arca South will be a modern business district equipped with a 24/7 operations center for efficient traffic and road management, and real-time alerts and emergency response. Integrated basement parking will be built to facilitate smoother vehicular flow above and below ground of Arca South, while energy-efficient programs will be instituted.
With the first phase comprising only a fourth of the 74-hectare property, it may take about 15-20 years to develop the entire complex, which the company secured in August 2012 from a government auction.
- Interaksyon
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