Ayala Land Inc. (ALI) spent P1.161 billion for expansion and land banking in the fourth quarter of 2022.
ALI funneled P849 million into ongoing estate development project in Quezon City with Eton Property of ultra bilyonaryo Lucio Tan.
It also invested to buy land in Caloocan (P157 million) and Quezon City (P155 million).
The funds came from the remaining balance of the P3.7 billion ALI raised from the sale of
87.37 million AREIT shares in April this year.