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Ayala Land affiliate allots over P2B for Cebu property.
(From BusinessWorld (Philippines))
Byline: Jennifer A. Ng
Ayala Land, Inc.'s affiliate Cebu Holdings, Inc. yesterday said it is spending over P2 billion this year to expand its mall and undertake the second phase of its high-end residential development in Cebu.
Cebu Holdings' chief operating officer Francis O. Monera told reporters yesterday that the company will start the expansion of its 70,000-square meter Ayala Center Cebu this year. The expansion is estimated to cost P800 million.
"We will expand the mall by another 13,500 square meters [to meet] the demand for more retail space in …
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