Ayala Group spending P264b in 2023 on property, telecom, power businesses READ MORE:
Ayala said in a recent analyst presentation about 32 percent of the total capital spending would be allotted to property arm Ayala Land Inc. which plans to aggressively launch residential projects and acquire land for future development.
ACEN Corp. earmarked P51 billion to P70 billion in capital expenditures this year depending on the opportunities that may arise. Ayala said it would “continue to engage with interested parties around potential divestments, despite current headwinds.” It also expressed plans to sell its stake in Light Rail Manila Corp. which operates and maintains LRT Line 1. The proceeds from the divestment would be used to fund future investments and further strengthen the company’s balance sheet.
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