Ayala Land, Inc. ( ALI) is a full line real estate firm based in the Philippines. It is a subsidiary of Ayala Corporation. It began as a division of Ayala Corporation until it was spun off and incorporated in 1988. It became publicly listed in the Philippine Stock Exchange (PSE: ALI) in July 1991. Its core businesses are in strategic landbank management, residential development, retail shopping centers, corporate businesses, and hotels & resorts. Support businesses are in construction and property management. ALI also derives other income from its investment activities and sale of non-core assets.[Philippine Stock Exchange Listed Companies http://www.pse.com.ph/html/ListedCompanies/listedcompanyinfo.jsp?compID=180&recCtr=5&subsector=9][Ayala Land 2009 Integrated Annual and Sustainability Report, pp. 208-209 ] In April 2015, ALI bought a minority stake in Malaysian property developer MCT Bhd. in a () deal,[edge.pse.com.ph/openDiscViewer.do?edge_no=30a5bbcea364884dec6e1601ccee8f59]
Controversies
Land Grabbing
Post-typhoon land grab on Sicogon Island
According to Rolling Stone
and The New York Times,
Ayala Land played a role in a 2013 land grab to build a resort. The Inquirer detailed how a documentary Asog exposed the transgression and helped force Ayala Land to pay millions of dollars in reparations to the community.
According to Time Magazine:
"The film features residents of Sicogon Island, some 6,000 of whom were subjected to a poststorm land grab perpetrated by Ayala Land Inc. to build a luxury resort. Following Asog’s success on the festival circuit, Ayala eventually started listening to residents’ demands and has agreed to pay $5.1 million in reparations to 784 displaced families."
Animal cruelty allegations
Caged eggs in Ayala Land's global supply chain
Ayala Land's hospitality arm
Ayala Land Hotels and Resorts which operates Raffles Makati
and Seda Hotels
[ Alt URL] as well as El Nido Resorts
in the Philippines, has been facing negative publicity for using of
Battery cage eggs in its supply chain.
Due to the cruel conditions on those farms, as well as the health risks associated with eggs produced in battery cages, the European Union Council Directive 1999/74/EC banned caged farms back in 2012.
Ayala Land posts strong Q1 2017 profit, up 18% at 5.56B
External links
