The Ayala group is expanding its presence in Southern Luzon as it sealed a partnership deal to transform the 60-hectare horse racing complex of Manila Jockey Club Inc. in Carmona, Cavite into a central business district.
Manila Jockey signed on Tuesday a memorandum of agreement with AKL Properties Inc., an affiliate of Ayala Land Inc. (ALI) and the Kuok group, to redevelop the property. The parties have appointed ALI as the development manager.
The 15 year old race track will have to find a new home for its operations due to the rapid urbanization of the Greater Metro Manila area.
“We’re planting again another seed in partnership with our reliable partners, the Ayala group through Ayala Land,” Manila Jockey chair Alfonso Reyno Jr. said.