Ayala Land to invest P80B in mixed-use project at FTI

AYALA Land Inc. (ALI) plans to build over the next five years a major commercial, hotel and residential complex on a 74-hectare plot of land at the Food Terminal Inc. (FTI) complex in Taguig city at a cost of about P80 billion.

Aniceto Bisnar, ALI vice president for strategic planning management group, said the company will build hotels, office buildings and residential projects using 480,000 square meters of developable premises on the site. The government sold 74 hectares, out of 120 hectares at the FTI complex, to ALI in November 2012 for P24.3 billion.