Developer Ayala Land, Inc. (ALI) will open on Friday, December 14, 2018, a mall in Bacolod City, its second in Negros Occidental province.
The Ayala Malls Capitol Central is part of Capitol Central, a nine-hectare mixed-use development radiating from the Negros Occidental Provincial Capitol Building and Capitol Park.
ALI won the contract to acquire a portion and lease the rest of the nine-hectare property, but initially shelved the project following a protracted dispute with rival developer SM Prime Holdings, Inc., which went to court to assail the contract.
The new mall will have as an anchor tenant the Metro department store and supermarket of Metro Retail Stores Group, Inc.
Capitol Central, envisioned to become a new growth area in Bacolod, features residential, business, leisure and recreation spaces aside from the mall, which will offer around 70,000 square meters of leasable space.
As of October 2018, ALI reported a total shopping center portfolio of 1.83 million square meters of gross leasable space.
Aside from malls, the company’s commercial leasing business is also composed of offices, and hotels and resorts, which generated total revenues of P25.3 billion in the first three quarters of 2018. This is 14 percent higher than the revenues recorded in the same period of 2017.
ALI said it posted a net income of P20.78 billion as of September 2018, 17 percent higher than P17.8 billion reported last year. The company’s consolidated revenues also rose to P119.7 billion, or 21 percent higher.
As of 11:35 a.m. Thursday, December 13, ALI was trading at P42.10 per share, up 30 centavos from the previous close of P41.80. (Ventures Cebu)