Ayala Land Inc. (ALI), the largest and most diversified property company in the Philippines, to become the first Philippine-based property developer that has a representative license to operate in the UAE

The office opening means the real estate arm of Ayala Corporation, the Philippines largest and oldest conglomerate, will be able to make available 100+ properties nationwide from its brands Bella Vita, AMAIA, Avida, ALVEO and Ayala Land Premier

Ayala Land offers properties for as low as Dh43,000 and with bank financing for as long as 20 years in partnership with BPI and other banks

Dubai, UAE, 3 March 2013: Ayala Land Inc. (ALI), the largest and most diversified property company in the Philippines will soon become the first Philippine-based property developer that has a representative license to operate in the UAE.

The office, which will serve as the company's Middle East hub, will be able to make available 100+ properties nationwide from its brands Bella Vita, AMAIA, Avida, ALVEO and Ayala Land Premier. ALI's official entry into the Middle East region will ensure that overseas Filipinos will be able to manage their wealth and property investments in the Philippines while they stay here in the UAE.

Ayala Land offers properties for as low as Dh43,000 and with bank financing for as long as 20 years in partnership with BPI and other banks.

Thomas Mirasol, President, Ayala Land International Sales Inc, said: "Over the years through the participation of the Ayala Group in banking, telecommunications, water utilities, infrastructure, tourism and real-estate development we have been partners of the government in nation-building. The upcoming launch of our office in the UAE marks another milestone in this partnership as we near the formal opening of Ayala Land's representative office here in Dubai. The UAE is temporary home to around 600,000 Filipinos and through this office we hope to bring the good news of the Philippines to our countrymen here.

"Ayala has a long and solid history in property development, in accordance with the highest construction quality standards. But equally important is not just what's delivered when properties are turned-over to their owners but also what happens to particular development or project, 10 or  20 years down the road. We have a track record of good after sales service and when you look at the track record of our developments, there is a substantial value appreciation thanks to our commitment to manage and nurture our projects long after we turned it over."

ALI's entry into the Middle East coincides with a year of unprecedented success for the Philippine economy - the main PSEi stock exchange index in February crossed 6,600 points, and the country's tourism sector is set for a boom that makes real estate one of the most lucrative areas in the near future.

Simultaneously, the Filipino expatriate community worldwide rose to the third position in 2012 in terms of foreign exchange remittances. Until November 2012, Filipino expatriates sent home almost $20 billion; the final year-end figure was expected to be around $24 billion.

"This is absolutely the right time for a powerhouse of the Philippine economy to meet the people who have given currency to the phrase 'Pinoy power' through their hard work, enterprise and talent for creating wealth. We hope to see many of them at our launch event," Mirasol added.

ALI is the real estate arm of Ayala Corporation, the 179-year-old Philippine conglomerate with a portfolio spanning sectors from banking to renewable energy. With a market capitalisation of US$10B (as of 13 February 2013), ALI is recognised as the largest and most diversified property company in the country.

Ayala Land's real estate holdings span residential, retail, office developments and hotels & resorts. One of its most important recent acquisitions was the last year's purchase of the stake owned by Saudi Arabia's Kingdom Hotel Investments in the luxury Fairmont Hotel and Raffles Suites and Residences project, in the commercial business district of Makati City. 

About Ayala Corporation
Ayala Corporation was founded in 1834 and is headquartered in Makati City, the Philippines. Ayala Corporation engages in real estate development, financial services, telecommunications, water distribution, sewerage and sanitation services, electronics manufacturing services, automotive dealerships, business process outsourcing, and real estate investments in the Philippines and internationally.

About Ayala Land
Ayala Land Inc (ALI), the real estate arm of Ayala Corp, is the leading real estate developer in the Philippines. With a market capitalisation of US$10B (as of 13 February 2013), the company is recognised as the largest and most diversified property company in the country. Within its Residential Business Group, ALI has 5 brands serving different income segments - Ayala Land Premier, Alveo Land, Corp., Avida Land Corp., Amaia Land and BellaVita. Each brand caters to a different segment, allowing the company to tap various markets. The Residential Business Group has 140 on-going projects nationwide (~Php240 billion in value). ALI has a balanced portfolio of complementary businesses, which include commercial leasing, hotels & resorts, services construction and property management.

For more information please contact:
Lucy Vicente
Account Manager
New Perspective Media
Tel: +971 4 236 7033
Mob: +971 56 144 3301
Email: lucy@newperspectivemedia.com

Sherwin Lim
Country Manager
Ayala Land
Mob: +971 50 951 5361
Email: lim.sherwin@ayalaland-intl.com

© Press Release 2013