News Alert - Ayala Land to invest more in subsidiary Amaia
PROPERTY giant Ayala Land Inc. is set to pour additional capital into subsidiary Amaia Land Corp. which handles the group's economic housing projects.
In a statement to the Philippine Stock Exchange on Thursday, Ayala Land said it will infuse an additional P3.5 billion into Amaia for the subsidiary’s expansion program in the next five years.
"Amaia's pipeline of projects includes horizontal developments as well as mid- and high-rise condominium buildings branded as AmaiaScapes, AmaiaSteps and AmaiaSkies, respectively," Ayala Land said.
Amaia has already launched four AmaiaScapes projects. The first Amaia Steps, on the other hand, will be launched in Novaliches Quezon City while the maiden Amaia Skies offering will soon rise in Cubao, Quezon City.
In the first half, Ayala Land reported earnings were up 35 percent to P3.38 billion and consolidated revenue was up 15 percent to P21.25 billion.
In the same period, Ayala Land spent P12.48 billion for project and capital expenditures, up 67-percent from P7.47 billion a year earlier. (GMA News)
Ayala Land to invest more in subsidiary Amaia ... - The Daily Guardian
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