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Manila Bulletin devider Business devider ALLHC buys 55-hectare property

ALLHC buys 55-hectare property

Published Jun 3, 2022 02:21 pm

AyalaLand Logistics Holdings Corporation (ALLHC), the industrial real estate arm of Ayala Land Inc., is expanding its portfolio with the acquisition of 55 hectares of land in Batangas for P677.69 million.

In a disclosure to the Philippine Stock Exchange, ALLHC said the acquisition was made through its subsidiary Laguna Technopark, Inc. which entered into Deeds of Absolute Sale to acquire 55 hectares of land located in Padre Garcia, Batangas.

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“This transaction increases ALLHC’s industrial park portfolio and further strengthens the vision to be the leading real estate logistics and industrial estate developer in the Philippines,” the firm said.

The property consists of 11 contiguous land parcels totaling 547,788 square meters located in Padre Garcia, Batangas sold by First Gilmore Realty Corporation, JRK Development Corporation, and eight individual land owners.

“ALLHC Group will assume the ownership of the land which will be the site of the future Batangas Technopark,” the company said.

In line with its commitment to build a national footprint, ALLHC said it continues to expand in key areas across the country.

In February 2022, ALLHC acquired an existing ready-built facility in Ste. Tomas, Batangas, adding 64,000 sqm of leasable warehouse space to the ALogis portfolio.

With this acquisition, ALLHC presently has 288,000 sqm warehouse gross leasable area (GLA) across 6 locations, 58 percent of its target of 500,000 sqm GLA by 2025.

ALLHC will diversify its product line further with additional cold storage facilities and other business platforms. ALLHC is on track to double its cold storage capacity to 15,000 pallet positions by the year 2023.

"Our growth plans are geared to enable ALLHC to seize opportunities in the new economy," said ALLHC outgoing President and CEO Maria Rowena M. Tomeldan.

She added that, “With the competitive advantage from our said portfolio of diversified product offerings, and our optimistic view on the economy's reopening, we look forward to enhancing our business performance in 2022. We will further strengthen ALLHC's position for the long term."

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Maria Rowena M. Tomeldan AyalaLand Logistics Holdings Corp. (ALLHC)
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