Ayala Group of Companies to invest P50B in Manila


MANILA, Philippines – Manila mayor Isko Moreno said Saturday (16 November 2019) business giant Ayala Group of Companies is pouring into the city at least 50 billion pesos in assorted projects that will benefit constituents and the public at large.

The mayor said he considers the date Saturday “historic” as it was the very first time Ayala Group of Companies visited the city capitol led by no other than prominent businessman Fernando Zobel de Ayala.

Ayala is AGC’s Vice Chairman, President, and COO rolled into one since the year 2006.

In their dialogue, the local chief executive said AGC’s billion-peso investment includes construction of a light rail transit 2 connector line from Recto Station through Pier 4, north harbor.

Aside from this, AGC will also construct a BPO or Bussiness Process Outsourcing building in Maynila, and a Grand Central Terminal in Tutuban Divisoria that will serve as center for all interconnecting roads for Tutuban-Malolos train, Malolos-Clark, Tutuban-Bicol buses and LRT among others.

Moreno pointed out investment by Ayala in Maynila dwells on the city’s renewed business vigor and beautification and clearing of major thoroughfares like Recto, Dagupan and Juan Luna.

The mayor added that before Ayala comes up with the design of the project, it was mutually agreed consent of the city hall must be taken into consideration first along with hiring of workers who are all residents of Manila in the project.

Moreno also stressed AGC’s investment infusion is fruition of almost two months of wooing giant conglomerates to give Manila a second look for future investments. (BENJIE CUARESMA/ISMAEL AMIGO/CNS)

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