Ayala Land sets P130 billion capex in 2019


Posted at Feb 18 2019 02:53 PM

MANILA -- Ayala Land said Monday it would spend P130 billion this year for new projects, which will be sourced from debt and internally generated funds.

The developer told the stock exchange that it would seek its board of directors' approval to register up to P50 billion in debt securities with the Securities and Exchange Commission.

Ayala Land said capital expenditures would include residential and commercial leasing projects, estate development, land acquisition, and other investments.

Shares of Ayala Land were up 0.22 percent to P44.60 in late trading on Monday, compared to a 1.21-percent increase in the main index.