Ayala Corp. (AC), the Philippines’ biggest property developer, plans to build a record number of homes in 2012 and expand into airports and railways, Chief Executive Officer Jaime Augusto Zobel de Ayala said.
“We have committed the highest capital spending ever in our history,” Zobel, 53, also chairman and son of billionaire Jaime Zobel De Ayala, said in a March 9 interview in Manila. “Ayala Corp. a hundred years ago is different from today. We’re open to change.”
Zobel plans to boost capital spending by 38 percent this year to a record 91 billion pesos ($2.1 billion), 75 percent of which is set for property unit Ayala Land Inc. (ALI) and Globe Telecom Inc. (GLO) While the company has diversified interests to include banking, its expansion pace has lagged behind rivals such as San Miguel Corp. (SMC), which moved beyond its roots as a brewer to become the largest power producer in Philippines. read more here
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Ayala, I guess, is one of the biggest realtor firms in the Philippines. They have been a huge factor in the housing market of the Philippines especially in metro areas and business centres. real estate exam
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