Ayala Exec Mum on Provincial Capitol Land

Ayala Land VisMin vice president Francis Monera has refused to comment when

asked on the update of his company’s planned purchase and lease of 7.7-hectare property owned by the Negros Occidental provincial government.

Monera, one of the panelists in the press conference for the launching of Verdana Homes Asyana Phase 3 at Business Inn last Saturday, could only say it is public knowledge that the transaction is still in the same status, no development, that is.

Ayala Land’s proposed purchase of the Capitol reportedly costs around P3.57 billion. The transaction is awaiting approval from the Commission on Audit (COA), it was disclosed br> RRegarding the call of the business groups on COA not to delay action on the Ayala Land deal, Monera said they are one with that call. “We’re one with them in pushing for Negros’ growth,” he said.

Last week, Governor Alfredo Marañon Jr. said COA has moved its “en banc deliberation” on the matter to February 8. He said it was supposed to be taken up last January 11.

Marañon earlier said he is expecting approval of the contract, after receiving reports that COA’s Legal Department has favorably endorsed the contract for approval.

The COA Regional Office, which was asked to review the deal, already endorsed the matter to the COA National Office.

Marañon lamented that the delay in the approval of the contract also results to the delay in the implementation of development projects in the province.

He said part of the proceeds from the lease and purchase of the said Capitol property will be for education and other infra projects.  These various projects will be distributed among local government units, and geared to benefit the people, he said.

TThe Sangguniang Panlalawigan had approved the contract between Capitol and Ayala six months ago, or last year.

The lease and purchase contracts were sent to COA-Manila in August last year.

Ayala Land had proposed to develop the said property into a Capitol Civic Center with investment worth P6 billion.

The Center will have shopping, entertainment and dining establishments, a hotel, business process outsourcing offices, a multi-purpose event and convention center, residential and commercial zones with high-rise towers in the midst of private gardens, and a redeveloped Capitol Park as the focal point of the project.

Marañon stressed that as soon as COA approves the contract, both parties will immediately sign it, and construction will start.*