Real estate group buys landmark hotel in Makati

Ayala Land Inc. (ALI) is reallocating P1.44 billion from its redevelopment budget for Bank of the Philippine Islands’ (BPI) Ayala headquarters to finance the acquisition of the 578-room New World Hotel in Makati City.

In a disclosure to the Philippine Stock Exchange, the real estate developer said the funds will come from the proceeds of its earlier sale of shares in AREIT Inc. The company’s amended reinvestment plan removes the BPI HQ redevelopment from the list of disbursement projects and replaces it with the New World Hotel purchase.

ALI also adjusted allocations for other projects. Funding for the Arbor Lanes residential project was increased to P699.21 million from P478 million, while the budget for the Mandarin Hotel project was cut to P559.42 million from P1.18 billion.

The Arbor Lanes disbursement schedule was likewise extended to the third quarter of 2025 from the original second-quarter timeline.

The acquisition of New World Hotel Makati falls under the portfolio of ALI subsidiary AyalaLand Hospitality (ALH) and is seen as a strategic addition to the company’s hospitality assets in the country’s premier financial and commercial district.

“This move reflects our continued focus on offering a cohesive and high-quality guest experience across key locations,” ALH president and CEO George Aquino said. “The addition of New World Hotel Makati complements our existing portfolio and reinforces our commitment to serving evolving customer needs in one of the country’s most dynamic cities.”

Located across the Greenbelt complex and within walking distance of major office, retail, and residential areas, New World Hotel is considered a prime hospitality asset. ALI said the hotel will continue operations without disruption, retaining its current management team and honoring all existing bookings.