Under the REIT (real estate investment trust which is like a mutual fund composed of property assets) Law, ALI should fully disburse these funds within one year from the date of receipt.

ALI uses up all P13.5B net proceeds from AREIT IPO in one year

ALI initially received P290 million on 24 September 2020 and the balance of P1.160 billion on 7 October 2020. This means ALI has until September 23 and October 6 this year to disburse the remaining P1.45 billion proceeds.

Ayalas to raise additional P9B from debt market

Last August, ALI reported disbursing the P11.35 billion net proceeds from the AREIT IPO under its reinvestment plan which it amended twice due to re-prioritization of capital expenditures for projects and developments due to COVID-19.

P32 swap price: Ayala Land to pour in P15B commercial properties to AREIT

The post Ayala Land has P1.45B to burn in one month first appeared on Bilyonaryo Business News.