Ayala invests P1-billion in Legazpi mall project development.
City mayor Noel Rosal said on Saturday evening during a social event celebration held at the city motorpool compound that the Ayala Corporation has invested P1-billion for the construction of a mall right at the heart of the city.
Ayala took over the construction of the mall from the Liberty Commercial Center (LCC) in the former site of the old public market.
LCC which operates a chain of malls in Tabaco, Legazpi and Naga, is owned by the Tan family from Tabaco City.
The mall project is expected to be operational by December 2015.
The Ayala Corporation is the publicly listed holding company for the diversified interests of the Ayala Group whose business portfolio include investments in retail, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, management and business process outsourcing. (from PNA report)