Ayala, Araneta enter Altaraza joint venture

Altaraza Development Corporation (ADC), a joint venture between Ayala Land Inc. (ALI) and the Araneta Group, will initially invest P20 billion to develop 600 hectares of prime land to form part of the existing Altaraza estate in San Jose del Monte, Bulacan. ALI president and ADC chairman Bernard Vincent Dy and Araza Resources Corp. chairman and ADC board member Gregorio Ma. Araneta III led a recent board meeting on their project.