Property giant Ayala Land Inc. (ALI) failed to get a “yes” from the Pasay City government regarding its request to extend the deadline of submission of a counterproposal to SM Group’s unsolicited proposal to reclaim 300 hectares from Manila Bay.
However, a top official of ALI said that the group is “open to partnership” if ever there will be an opportunity to do a business venture with the SM Group involving the said project.
A few days ago, ALI sought the approval of Pasay City to give it 60 more days to submit a counterproposal to SM Land Inc.’s 300-hectare reclamation project.
Bobby Dy, ALI chief operating officer, said the company is “surprised and disappointed” with the decision of the Pasay City government, specifying that ALI is now reviewing the letter it received from the local government unit and mapping out its next step.
“Reconsideration, obviously, is one option. We are hoping for Pasay to reconsider its decision and allow the 60-day extension,” Dy further said.
According to him, the deadline for submission of proposals is scheduled on November 4, and the company hasn’t done anything crucial yet regarding its planned proposal since the project requires more careful master-planning.
Given ALI’s eagerness to participate in the reclamation project, Dy indicated that the company is open to a joint venture with the SM Group.
“We were known to have a lot of partnerships. Part of our development strategy is to partner with different people. We are always open to partnership,” he added.