Yahoo Philippines News - Live 2013 Philippine Elections News Updates and Results: Ayala Land won't submit counter-offer Pasay City land reclamation project

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Ayala Land won't submit counter-offer Pasay City land reclamation project Nov 4th 2013, 17:34 Listed property firm Ayala Land Inc. (ALI) will not submit a counter-offer for a multi-billion peso reclamation project proposed by SM Land Inc. to the Pasay City government, the company said in a letter. "We regret that we cannot submit a counter proposal," ALI chief operating officer Bernard Vincent "Bobby" Dy said in the letter, dated Nov. 4 and addressed to Pasay City Mayor Antonino Calixto. ALI earlier asked the local government to extended by at least 60 more working days the Nov. 1 deadline for competing bids. The request, however, was thumbed down last week by the Pasay City government.

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