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Friday, March 29, 2024

Ayala logistics firm expands, acquires 100% of Unity Realty

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Ayala Land Logistics Holdings Corp., the logistics arm of Ayala Land Inc., has acquired a 100-percent percent stake in Unity Realty & Development Corp. for P2.39 billion.

ALLHC said in a disclosure to the stock exchange the acquisition would further strengthen the company’s goal to be the leading real estate logistics and industrial estate developer in the Philippines.

ALLHC said URDC owns a property in Mabalacat, Pampanga, a prime location for the development of a new industrial park.

“Effectively, URDC will become a wholly-owned subsidiary of ALLHC,” the company said.

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ALI in April said it was in the process of acquiring a 200-hectare industrial park somewhere in Central Luzon to be developed as the country’s first Philippine-Sino industrial park.

ALI said it would form a joint venture with a Chinese investor for the planned industrial park development.

The planned first Philippine-Sino industrial park plans to attract Chinese companies engaged in light industries and light manufacturing.

ALI also plans to develop a portion of the 290-hectare property in Tarlac it acquired from Central Azucarera de Tarlac into an industrial park.

ALI earlier consolidated its logistics business under ALLHC, formerly Prime Orion Philippines Inc. 

ALLHC has interests in real estate and property development, leasing of warehouses and retail electricity supply. Its subsidiaries include Orion Land Inc., Orion Property Development Inc., LCI Commercial Ventures Inc., Laguna Technopark Inc. and Ecozone Power Management Inc. 

OLI wholly-owns Tutuban Properties Inc., which holds the lease and development rights over Tutuban Center in downtown Divisoria. 

The company currently has three industrial parks—the 224 hectare Laguna Technopark, the 154-hectare Cavite Technopark and the 105-hectare Laguindingan Technopark in Misamis Oriental province.

The Laguindingan Technopark is strategically located  beside the Laguindingan airport and nearby seaports, providing efficiency and better economic opportunities  for future locator-companies. It is also envisioned to be a new logistics hub in Northern Mindanao.

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