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Ayala to triple shopping spaces

Ayala Land Inc., a major property developer, plans to triple the size of shopping malls, office space and hotel and resorts businesses over the next seven years to achieve its P40-billon net income target by 2020.

Ayala Land said in a presentation during a recent investors’ briefing it expected the gross leasable area of its shopping malls to reach 3.6 million square meters by 2020 from 1.3 million sq. m. as of end 2013.

The company plans to increase the GLA of office development to 1.8 million sq. m. by 2020 from 600,000 sq. m. as of end 2013.

The hotels and resorts business is projected to reach 6,000 room keys by 2020 from 2,000 room keys as of end 2013.

Ayala Land this year plans to add 147,000 sq. m. of leasable space for shopping centers that will open in Tagaytay, Nuvali, Makati and UP Town Center in Quezon City.

Ayala Land will also add 106,000 sq. m. of office leasable space with the completion of several projects in Bonifaco Global City and Alabang, and open 153 hotel rooms this year with the addition of Seda Iloilo.

The property company plans to be aggressive with the expansion of the retail and hospital business.

The group ended 2014 with 87 FamilyMart convenience stores in operations. It plans to increase the outlets to 500 over the next few years.

Ayala Land as of end 2014 has two QualiMed clinics and one hospital in operations. It aimsw to operate 10 clinics and 10 hospitals in Ayala Land township projects over the next five years.

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