AYALA LAND, Inc. (ALI) is teaming up with two companies headed by businessman Romeo G. Roxas for two projects in Aurora and Quezon province.
In a disclosure to the stock exchange on Tuesday, the listed property giant said it has signed a memorandum of understanding with Green Square Properties Corp. (GSPC) and Green Circle Properties and Resources, Inc. (GCPRI) for the establishment of a joint venture company.
ALI is set to own 51% of the joint venture (JV), while 49% will be split between GSPC and GCPRI.
The JV firm will be tasked to develop 27,852 hectares of land located in Dingalan, Aurora, and General Nakar in Quezon province.
“The long-term vision for the properties is to support the government’s initiative of developing the country’s eastern coast and promoting inclusive growth through the phased development of a master planned mixed-use estate, principally oriented towards tourism, commercial, residential, and institutional uses,” ALI said in a statement.
The company noted it will incorporate environmental and ecological programs in the development of the properties to conserve the forest and to protect its biodiversity.
In a disclosure to the stock exchange on Tuesday, the listed property giant said it has signed a memorandum of understanding with Green Square Properties Corp. (GSPC) and Green Circle Properties and Resources, Inc. (GCPRI) for the establishment of a joint venture company.
ALI is set to own 51% of the joint venture (JV), while 49% will be split between GSPC and GCPRI.
The JV firm will be tasked to develop 27,852 hectares of land located in Dingalan, Aurora, and General Nakar in Quezon province.
“The long-term vision for the properties is to support the government’s initiative of developing the country’s eastern coast and promoting inclusive growth through the phased development of a master planned mixed-use estate, principally oriented towards tourism, commercial, residential, and institutional uses,” ALI said in a statement.
The company noted it will incorporate environmental and ecological programs in the development of the properties to conserve the forest and to protect its biodiversity.
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