ALI takes majority stake in Malaysian property company

MANILA, Philippines — Ayala Land Inc. (ALI)  has raised its stake in Malaysian property firm MCT Bhd to 50.19 percent from 32.95 percent.

ALI, through its wholly-owned subsidiary Regent Wise Investments Ltd. (RWIL), signed a share purchase agreement to acquire an additional 17.24 percent share in MCT Bhd.

A higher stake reflects the company’s commitment to enhance MCT’s operations and to further expand its business.

It also gives ALI the opportunity to strengthen its presence in Malaysia and in the Southeast Asian region.

“This will also provide ALI with a greater opportunity to take advantage of the growth potential and long-term prospects of the real estate sector in Malaysia and will affirm ALI’s role as a key player in the ASEAN property sector.

With ALI’s solid track record in developing large-scale, integrated, mixed-use and sustainable estates across the Philippines and in growing its diversified product lines, we believe that it is in a highly-capable position to boost the performance and enhance the value of MCT,” ALI said.

RWIL will conduct a mandatory tender offer.

ALI made its initial investment in MCT in 2016 with a 9.16 percent

MCT is a property developer specializing in mixed-use projects that include retail, office, hotel, and affordable-to-middle income residential.

The company has several ongoing projects in OneCitySubang Jaya and Cyberjaya. It has a land bank in Dengkil.

Aside from the Malaysian market, ALI is also looking into other markets in the fast booming Southeast Asian region.