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
