New hotels in Makati
Property developer Ayala Land Inc. plans to invest PhP20 billion to redevelop the Ayala Centre by doubling the number of hotel rooms, office and retail space, and residential condominiums in the Makati central business district.
Ayala Land president Antonino Aquino said phase one of the Ayala Centre redevelopment involves the construction of six new towers over the next two years, including two office buildings, three residential towers and one hotel. The company is building 655 new hotel rooms that will complement existing hotels in area such as the Intercontinental Hotel and the Ascott.
It is also constructing three residential towers, including the 50-storey Park Terraces. The company will also be adding 54,000 square metres of retail space and two 13-storey office buildings that will target business process outsourcing companies.