From Business Mirror AYALALAND Logistics
Holdings Corp. (ALLHC), a unit of property
developer Ayala Land Inc., on Monday said it
bought a smaller company named Unity Realty
and Development Corp. that has tracts of land
in Pampanga. “The transaction further
strengthens the vision of ALLHC to be the
leading real-estate logistics and
industrial-estate developer in the
Philippines,” it said in its disclosure to the
Philippine Stock Exchange. The company said it
bought the entire company, which owns about
192 hectares of property in Mabalacat in
Pampanga, for P2.39 billion in cash. According
to its financial statements, Unity Realty had
no income during 2017 and 2018, and has total
assets worth P30.92 million. It reported that
it has a land worth of P30.64 million.
AyalaLand Logistics said the property is “a
prime location for the development of a new
industrial park.” Unity Realty declared a net
loss of P313,153 last year, from a loss of
P12,500 in the previous year. The company,
based in Binondo, Manila, was incorporated in
April 1997 as a real-estate developer. With
the said transaction, Unity Realty effectively
becomes a unit of AyalaLand Logistics. The
principal officers of the company are Sy Ka
Kieng as its CEO, Daniel Chan Sy as its
president and manager, and Alejandro Chan Sy
as its chief finance officer. – VG Cabuag
AyalaLand Logistics buys firm for its land in Pampanga
