AYALALAND Logistics Holdings Corp. (ALLHC), through its subsidiary, bought a ready-built facility and land in Batangas for a total of P1.24 billion, inclusive of value added tax.

ALLHC’s unit Ecozone Power Management, Inc. (EPMI) inked a deed of absolute sale to acquire a 64,000-square meter (sq.m.) ready-built facility from Sheng Long Property Management, Inc. along with the 96,980 sq.m. plot of land the facility was built on from Aibis Land Management, Inc.

“EPMI will assume ownership of the existing ready-built facility and will continue its operation under the ALLHC Group’s warehouse leasing brand, ALogis,” the company told the exchange on Monday.

The facility will be renamed “ALogis Sto. Tomas” as it is located within the Light Industry & Science Park (LISP) III in Sto. Tomas, Batangas. The park may be accessed through the South Luzon Expressway (SLEx) from Manila and the Southern Tagalog Arterial Road (STAR Tollway) from Batangas City.

ALogis Sto. Tomas is the ALLHC group’s first industrial property in Batangas. The company said it has accreditation from the Philippine Economic Zone Authority and currently houses companies in the manufacturing and logistics industries.

“This transaction strengthens ALLHC’s vision to be the leading real estate logistics and industrial parks developer and operator in the Philippines,” ALLHC said.

The company previously said it is targeting to be present in 10 “key areas” across the country. Aside from Batangas, it is present in Manila, Laguna, Cavite, Pampanga, and Laguindingan in Northern Mindanao.

ALogis Sto. Tomas expanded ALLHC’s warehouse gross leasable area (GLA) to 288,000 sq.m. from 224,000 sq.m. The company wants to have a GLA of 500,000 sq.m. by 2025.

ALLHC shares on Monday declined 4.04% or 22 centavos, closing at P5.23 apiece. — Keren Concepcion G. Valmonte

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