Ayala Land, Inc. (ALI), announced on Wednesday that water and used water services for all its projects would now be provided by Manila Water Philippine Ventures Inc., a wholly owned subsidiary of sister firm Manila Water Co., Inc.
In a disclosure to the Philippine Stock Exchange, ALI said it had signed a memorandum of agreement (MOA) with MWPV, along with its subsidiaries and affiliates that include Cebu Property Ventures and Development Corp. (CPVDC) and Cebu Holdings, Inc. (CHI).
“Under the agreement, MWPV shall provide water and used water services to all ALI
Group projects nationwide,” the firm said.
Manila Water affirmed the agreement in a separate disclosure.
It noted that the ALI Group previously provided in-house water and used water services and facilities for its property development projects.
“The objective of the MOA is to leverage on the respective expertise of the parties, in order to provide optimum services and facilities for their customers and clients,” Manila Water said.
Besides CPVDC and CHI, other subsidiaries and affiliates included in the agreement are Alveo Land Corp., Avida Land Corp., Amaia Land Corp., Bellavita Land Corp., Portico Land Corp., Asian I-Office Properties Inc., Solinea Inc., Avencosouth Corp., Accendo Realty Inc., Vesta Property Holdings Inc., Crans Montana Property Holdings Corp., Summerhil Commercial Ventures Corp., SouthPortal Properties Inc., Ten Knots Philippines Inc., and AyalaLand Hotels and Resorts Corp.