The Philippine central bank is set to introduce a residential property-price index in the first half of the year as it intensifies monitoring of asset-bubble risks, Deputy Governor Diwa Guinigundo said.
Ayala Land Inc. will develop tourism complexes and hospitals as one of the Philippines’ biggest builders expands beyond housing, malls and offices to boost profit that rose to a record. Shares rose to a four-month high.
Ayala Land Inc. Chairman Fernando Zobel de Ayala, Philippine Secretary of Trade and Industry Gregory Domingo and “Miss Saigon” star Lea Salonga were among VIPs who prowled a Manila parking garage this week at a preview of Art Fair Philippines.
Ayala Land Inc., the biggest Philippine developer, said it will be difficult to meet the Nov. 4 bid deadline for a Manila reclamation project after its request to extend the cut-off date by two months was rejected.
Ayala Land Inc., the Philippines’ largest builder, plans to buy properties in the capital and nearby provinces to expand its land portfolio and meet its goal of increasing profit to 10 billion pesos ($241 million) by 2014.