HomeMMBIZ NewsAyala Land Eyes Myamar Move

Ayala Land Eyes Myamar Move

Ayala Land, the property subsidiary of the Philippines-based Ayala group, is aiming at developing overseas markets, particularly in Myanmar and Vietnam, a company official said.

Ayala Land Inc is expanding its residential developments and its retail business to its ASEAN neighbours, newly appointed president and CEO Bernard Vincent O Dy said in a briefing after a stockholders’ meeting, according to Filipino media reports.

In Myanmar, Ayala Land partnered with a local retail company for a $30-million residential project comprising a series of towers.

Dy, however, declined to name its local partner as well details of the masterplan, citing a non-disclosure agreement.

“It’s a $30-million project, our share is $10 million, not a huge investment on our part,” he was quoted as saying, adding that the first tower will be launched towards the end of the year.

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