The country’s biggest property groups are closing ranks behind a push to delay new valuation rules, raising the pressure on the Marcos administration as developers grapple with higher costs, unsold units and a massive housing backlog.
AREIT Inc. is set to grow into a P177-billion property giant spanning offices, malls and hotels after shareholders approved a P17.3-billion infusion of six Ayala Land Inc. assets.
The firm said the agreements cover Cloverleaf in Quezon City, Broadfield in Biñan, Laguna, Arca South in Taguig City, and Evo City in Kawit, Cavite. The sites are positioned along major transport corridors and within rapidly growing residential and commercial hubs, supporting Makro’s expansion into high-growth markets.
ABS-CBN Corp. expects to turn over its former headquarters property to Ayala Land Inc. by mid-2027, as the media giant consolidates its Quezon City operations into two buildings.
Ayala Land Inc. is being dropped from the MSCI Philippines Standard Index, dealing another blow to one of the country’s biggest property developers after a stock selloff this year.