The Philippines conglomerate Ayala boosts investment by 16% in 2021

Ayala will increase capital spending by 16% to 182 billion pesos ($3.8 billion) in 2021, the Philippine conglomerate says, with a large chunk going to its main real estate and telecommunications segments.Though the COVID-19 pandemic has hurt the group’s earnings, Ayala will keep investing in those crucial fields, anticipating strong demand for its properties under development in Manila. 

Once the situation with pandemic settles down, Ayala aims to expand the business by continuing to invest in the development of communication networks as well as real estate fields such as housing and commercial facilities in the capital of Manila and other regions.

President and Chief Operating Officer (COO) Fernando Gioberde Ayara Zobel de Ayala expressed hope that Philippine economic growth will recover to between 5% and 6% in 2021, citing a smaller-than-expected decline in money sent home by Filipinos working abroad.

Inquiry / Info request
Online consultation / Free

Related page

Manila
33°
Fair
5:45 am5:49 pm PST
Feels like: 41°C
Wind: 13km/h W
Humidity: 66%
Pressure: 1007.11mbar
UV index: 11
15h16h17h
32°C
31°C
30°C
WedThuFri
31/26°C
31/26°C
32/26°C

Philippines Calendar

September 2023
SMTWTFS
27
28
29
30
31
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Philippine Holidays

Inquiry

PVC Info Desk
Return Top Inquiry / Info request Online consultation / Free