AYALA Land Inc. (ALI) said Thursday that it was planning to use the roughly P2.76 billion raised from the sale of 75 million common shares in real estate investment trust arm AREIT Inc. for the acquisition of three Metro Manila properties next year.
"Ayala Land intends to invest its net proceeds in land acquisitions in Metro Manila which Ayala Land may undertake on its own or through other subsidiaries and affiliates," ALI told the stock exchange.
