Philippine group Ayala invests in Macau and Beijing

15 March 2007

Hong Kong, China, 15 March – Philippine group Ayala, owned by one of the country’s richest families, has invested some US$100 million in two real estate projects in Macau and Beijing, the South China Morning Post reported Wednesday.

According to the English-language paper, the Ayala group invested a total of US$75 million and third party investors are needed to complete the investment.

Although company sources confirmed the investment no details were given.

Sources contacted by the South China Morning Post said, however, that in Macau the company was betting on a new residential concept while in Beijing it would refurbish an existing commercial project for a greater return on investment.

As well as Macau and mainland China, the group will watch out for opportunities in the region, although it will be “selective” in Hong Kong due to high prices there.

The Ayala group, which is over 170 years old, has interests in sectors such as real estate, banking and telecommunications and management and development of drinking water distribution networks. (macauhub)