Ayala Land, Inc. (ALI) announced on Friday that they are gearing up for redevelopment plans, including a modern intermodal transport facility, among many others, at the Ayala Center in Makati.
The real estate group said in a statement that the new construction is specifically designed for the commuting public, which will ultimately ease traffic and pedestrian flow in the EDSA-Ayala area.
According to ALI Vice President and Head of Operations Manny A. Blas, this is part of the Makati revitalization plan which also involves redevelopments of Ayala Triangle, Circuit Makati, City Gate, and McKinley Exchange.
“By constantly striving to change the landscape and optimizing the use of space, we believe that the Makati CBD will remain competitive and continue to contribute significantly to the country’s economic development in the years to come,” said Blas.
Blas also unveiled that InterContinental Hotel Manila will be ending its operations soon, for the management contract between its subsidiary Ayala Land and Resorts Corporation (AHRC) and InterContinental Hotels Group (IHG) will expire on December 31, 2015.
The hotel, which occupies a portion in the financial district, will be used and transformed into said new transport facility.
“We thank InterContinental Hotels Group for the long and fruitful partnership which spans 46 years. It was one of the first developments that helped to establish Makati as a premier central business district, and this legacy will be upheld by the continuous enhancement of Makati,” he said.
But it’s not yet the end for IHG in the Philippines as it will set its focus on managing its other hotel property under AHRC, Holiday Inn and Suites Makati, said Leanne Harwood, IHG vice president for operations in South East Asia.
“While we are sad to close the InterContinental Manila, we are thankful for the valued partnership with AHRC. IHG continues to manage AHRC’s other property in the city, Holiday Inn & Suites Makati. We remain focused on our growth in the Philippines and look forward to further opportunities with the group,” she said.
InterContinental Hotel Manila is the second hotel to close down in Makati in less than two years, preceded by Mandarin Oriental Manila, which announced its exit on June 2014 for reopening in 2020 under a new management with the AHRC.