Ayala Land & Manila Jockey Club to Build BPO Facilities
Property giant Ayala Land Inc. and racetrack developer Manila Jockey Club announced they had teamed up to build facilities for business process outsourcing (BPO) companies on a 1.1-hectare property in Manila’s Santa Cruz district.
They told the stock exchange that they had agreed on the principal terms of the project, on property that is part of the San Lazaro racetrack, and that the project would consist of two office buildings with leasable area of 40,000 square meters.
They said they had agreed to execute definitive agreements in 60 days, subject to fulfillment of certain conditions.
Under the initial agreement, Ayala Land will do a due-diligence audit on the property.
