Company now developing Solaire shopping mall
Ayala Corp. has confirmed media reports that the company is interested in a multibillion-dollar project to revamp the Ninoy Aquino International Airport in the Philippine capital of Manila.
In a filing with the Philippine Stock Exchange, Ayala acknowledged that its wholly owned subsidiary, AC Infrastructure Holdings Corp., “is interested to participate in the bidding for the development of the Ninoy Aquino International Airport if the bidding materializes.”
It added that the company had “no plans” to bid on a contract that would include improvements to five other regional airports in the country, reported GGRAsia.
According to the Philippine Star, the country’s Department of Transportation and Communications is finalizing plans for the redevelopment project. The airport is adjacent to Resorts World Manila. Last October, Vegas-based Caesars Entertainment Corp. said it was interested in building a casino on land next to the airport. In December, the Philippine government said it would not issue any new casino licenses until after mid-2016 at the earliest, after the current president, Benigno “Noynoy” S. Aquino III ends his term.
When it comes to Manila, Ayala has other irons in the fire: its Ayala Land Inc. subsidiary signed a deal last year to operate a 5,000 square meter (53,819 square-foot) retail mall at Solaire Resort and Casino in Manila. The shopping mall will open in phases starting in the latter part of 2015.
