AYALA LAND, Inc. (ALI) on Monday denied reports it is developing a tourism project in Sagada, Mountain Province.

“We would like to inform the public that Ayala Land, Inc. has no plans for acquisition and development in the town of Sagada,” the property giant said in a statement on Monday.

A newspaper report indicated the government unit of Sagada and its indigenous peoples have joined hands in opposing a property firm’s plans for a recreational development on a 20-hectare property in Batalaw.

The report quoted Sagada Mayor James B. Pooten, Jr. as saying ALI is planning to develop the property. He also claimed a company lawyer had talked with some landowners in the area.

Sagada is among the 10 municipalities of Mountain Province and is known for tourist attractions such as the Hanging Coffins.

Sagada residents are currently collecting signatures, which will be submitted to the municipal government, to strengthen their opposition on such development.

Shares in ALI went up 1.25 points or 2.72% to close at P47.25 each at the stock exchange on Monday. — Vincent Mariel P. Galang