From Business Mirror

AYALALAND Logistics Holdings Corp. (ALLHC), a unit of property developer Ayala Land Inc., on Monday said it bought a smaller company named Unity Realty and Development Corp. that has tracts of land in Pampanga.

“The transaction further strengthens the vision of ALLHC to be the leading real-estate logistics and industrial-estate developer in the Philippines,” it said in its disclosure to the Philippine Stock Exchange.

The company said it bought the entire company, which owns about 192 hectares of property in Mabalacat in Pampanga, for P2.39 billion in cash.

According to its financial statements, Unity Realty had no income during 2017 and 2018, and has total assets worth P30.92 million. It reported that it has a land worth of P30.64 million.

AyalaLand Logistics said the property is “a prime location for the development of a new industrial park.”

Unity Realty declared a net loss of P313,153 last year, from a loss of P12,500 in the previous year.

The company, based in Binondo, Manila, was incorporated in April 1997 as a real-estate developer. With the said transaction, Unity Realty effectively becomes a unit of AyalaLand Logistics.

The principal officers of the company are Sy Ka Kieng as its CEO, Daniel Chan Sy as its president and manager, and Alejandro Chan Sy as its chief finance officer. – VG Cabuag