Lack of an urban planner a blessing for Ayala Land

ANOTHER real estate developer might have viewed it as an obstacle, but Ayala Land says that it has worked the Philippines' political instability, frequent leadership changes, and government's lack of an urban planning or development agency to its advantage.

Not having to adhere to a regulatory body's land use blueprint has enabled it to acquire large plots of land and develop them according to its own plan and design. And as long as the developer is paying its property taxes, building financial districts to attract multinational corporations and foreign investment, and providing infrastructure and services that benefit the city, the government has no complaints.

President of Ayala Land, international sales, Thomas Mirasol, on a recent visit to Singapore, said: "The fact that there is nobody in the Philippines who regulates urban planning has been great for Ayala Land, because we are probably the only company there that has the scale financially to take on large plots of land."