BIZ BUZZ: ALI readies something special for iconic ABS-CBN HQ
Ayala Land Inc. (ALI) will soon further expand its land bank of 10,000 hectares with the acquisition of Lopez-led ABS-CBN Corp.’s 30,000-square-meter Quezon City property, which houses the Kapamilya network’s broadcasting center.
And Anna Ma. Margarita Bautista-Dy, president and CEO of the property developer, knows just how valuable this piece of land is.
The ALI official, in a press briefing on Thursday in Makati, said they were still planning how the property will be transformed in the future. But one thing is for sure, it should be worthwhile.
“We would like to make something unique in that area given that it is quite a busy area and there are few other developments there,” she said.
However, Bautista-Dy said they do not have the specific timeline yet for the project.
The P6.24-billion property sale was signed in February. ABS-CBN is set to consolidate its its operations at the Eugenio Lopez Jr. Communications Center, which is also within the same vicinity, following the transaction.
