AyalaLand Logistics Holdings Corp. said Wednesday it acquired a 55-hectare property in Padre Garcia, Batangas which it will develop into a technopark.
ALLHC said in a disclosure to the stock exchange the newly-acquired land would address the growing demand for industrial estate in Southern Luzon. The industrial park will cater to light, medium and non-polluting industries from both local and foreign markets.
The property is also being positioned to house the future ready-built facilities and cold storage facilities of ALogis, the industrial leasing brand ALLHC.
“We are looking forward to further energizing the municipality of Padre Garcia by bringing more employment opportunities for the communities in the province of Batangas and nearby localities,” ALLHC chief operating officer Patrick Avila said.
“The acquisition is a strategic move that furthers ALLHC’s goal of building national footprint by increasing its presence is key areas nationwide,” he said.
The planned Batangas technopark will be the fifth industrial estate owned and operated by ALLHC. It operates Laguna Technopark, Pampanga Technopark, Cavite Technopark and Laguindingan Technopark in Misamis Oriental.
This will also be the second property of ALLHC in Batangas after it acquired a 64,000-square-meter ready-to-build facility in Sto. Tomas, Batangas in February.
The newly-acquired property is accessible from Manila via South Luzon Expressway, continuing on to Southern Tagalog Arterial Road. It is also an hour drive from the Port of Batangas, an international seaport serving as the alternate to the Port of Manila.
ALLHC earlier obtained shareholders’ approval for the increase in the company’s authorized capital stock to P10 billion from P5 billion through the creation of P5 billion worth of preferred shares.
The increase in the capital stock will be used as funding source for ALLHC’s expansion projects and growth plans.
Aside from developing industrial estate, cold storage facilities and ready-to-built factories, ALLHC also has commercial leasing portfolio comprising of Tutuban Center in Manila and South Park Center in Muntinlupa.