Business
Ayala Land Raises P2.67 Billion from AREIT Share Sale Amid Economic Uncertainty
Philippine property giant Ayala Land Inc. (ALI) has raised P2.67 billion from a fresh sale of shares in its real estate investment trust, AREIT. The company is recalibrating its capital expenditure plans amidst economic uncertainties.
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- Ayala Land Raises P2.7B From AREIT Share Sale, Fuels Further Investment
Ayala Land Inc. (ALI), a leading Philippine property developer, has raised approximately P2.7 billion (around $46 million USD) from the sale of a portion of its stake in its sponsored real estate investment trust, AREIT Inc. The capital raised is earmarked for future investments, aligning with ALI's capital recycling strategy.