ALI to close Panlilio property acquisition deal ALI Rating: Hold Boulevard Holdings Inc. (BHI) approved to amend the terms of reference executed between BHI and Ayala Land in April 2013 in favor of a more beneficial arrangement involving a recurring income stream on new property sales for an infinite period, subject to topographical feasibility. ALI agreed to acquire certain landholding assets of BHI, which owns a vast land bank in Ternate, Cavite that includes the 3,000-hectare Puerto Azul complex. ALI will develop only up to 25% of the property in line with its environmental ethics.
Posted on: Mon, 02 Dec 2013 01:54:12 +0000
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