ALI raises 2019 capex budget to P130 billion

AYALA Land Inc (ALI) said that it set a capital expenditure (capex) budget of P130 billion this year, up from P110.1 billion a year earlier with the largest portion of the capex funding its residential projects. In a briefing in Makati City on Friday, ALI Chief Financial Officer (CFO) Augusto Cesar D. Bengzon said that about 40% will go to residential development, 20% to 25% to its leasing business, and the remainder deployed for land acquisition.