Ayala Land, Eton Properties To Co-Develop C5 Township
Manila, Philippines—In its disclosure to the Philippine Stock Exchange (PSE), dated January 21, 2016, Ayala Land Inc. (ALI) and LT Group Inc. (LTG) entered into an agreement to jointly develop a township project, which spans portions of Pasig City and Quezon City, along the C5 corridor.
In light of the recent partnership, Bernard Vincent O. Dy, ALI CEO and president, said “We look forward to a successful partnership with the LT Group. This partnership will allow us to combine our capabilities towards the development of a 35-hectare integrated mixed-use project in one of the most prime locations in Pasig and Quezon City. Our shared vision and commitment to this project will open new opportunities for economic growth, which will contribute to the development of the community.”
Dr. Lucio C. Tan, LTG chairman, likewise expressed enthusiasm for the joint venture. “We’re very pleased to be entering into a joint venture with ALI. This project will be a perfect addition to the growing portfolio of Eton Properties Philippines, Inc., the property development arm of LTG. We believe that this is an excellent partnership that will enable us to build an outstanding mixed-use development which will offer a wide range of property investment and lifestyle options to customers.”
The ALI-LTG partnership will co-develop the project pursuant to a joint master plan. (Press Release)