By James A. Loyola
AyalaLand Logistics Holdings Corporation, a subsidiary of property giant Ayala Land, Inc., is expanding its logistics and industrial estate business to Pampanga with a P2.39-billion land acquisition.
In a disclosure to the Philippine Stock Exchange, the firm said it has acquired 100 percent of the shares of Unity Realty & Development Corporation (URDC) which owns 192 hectares of land in Mabalacat, Pampanga.
According to ALLHC Investor Relations, the property will be developed by the firm into an industrial park.
“The transaction further strengthens the vision of ALLHC to be the leading real estate logistics and industrial estate developer in the Philippines,” ALLHC said.
ALLHC is the former Prime Orion Philippines, Inc. which owns the Tutuban complex in Divisoria, Manila. After ALI acquired control of POPI, it injected its other logistics and industrial park assets into the company.
This was done by ALLHC acquiring a majority stake in Laguna Technopark, Inc., a prime developer of real estate logistics and industrial parks in the Philippines. It manages the 460-hectare Laguna Technopark in Santa Rosa and Biñan and 135-hectare Cavite Technopark in the municipality of Naic.
To boost its logistics business, ALLHC said it is trying to maximize the value of its 14-hectare Lepanto property in Calamba, Laguna by shifting Lepanto Ceramics’ focus from tile manufacturing to real estate warehouse operations.
The company said it upgraded the common areas of its Lepanto Industrial Complex, initiated a phased rehabilitation program and converted formerly non-leasable areas into leasable spaces.
However, ALLHC said that, despite the expansion and development, its Tutuban property in Divisoria, Manila remains the symbol of its transformation.
ALLHC completed the refurbishment of the Tutuban railway station building into a model for adaptive reuse of a built heritage site.