July 08, 2013

ALI reconsiders P6-B Bacolod project

After saying last year that it wants to “disengage” from the project, property giant Ayala Land Inc. said it is still interested to proceed with its P6-B Capitol Civic Center on the 7.7-hectare prime property of the Negros Occidental provincial government located in Bacolod.

ALI said that it is willing to proceed with the Capitol project if the court case on the said property filed by rival bidder SM Prime Holdings Inc. is “resolved with finality in favor of the province.”

In July 2011, the Provincial Capitol’s Committee on Awards and Disposal of Real Properties had awarded the sale of 36,587 square meters (3.6 hectares) and the lease of 40,481 square meters (4.04 hectares) to ALI after SM Prime failed to join an announced negotiated bidding. - WealthSec