Ayala Leads Deal to Transform Cavite Racetrack into CBD

The Ayala group has scaled up its footprint in Southern Luzon with a partnership deal to transform the 60-hectare horse racing complex of Manila Jockey Club Inc. in Carmona, Cavite, into a new central business district.

Manila Jockey signed on Tuesday a memorandum of agreement with AKL Properties Inc., an affiliate of Ayala Land Inc. (PSE: ALI) and the Kuok group, to redevelop the property. The parties have appointed ALI as the development manager.

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