Shares of Ayala Land, Inc. (ALI) rose last week as investors hunted for bargains, according to a report by BusinessWorld.
The property developer announced fresh investments in its 320-hectare Lio estate in El Nido, Palawan, which is part of the company's broader expansion plans. The new investments are expected to boost the estate's tourism and residential offerings.
Analysts attributed the share price increase to bargain hunting after previous declines, as well as positive sentiment from the expansion news. Ayala Land remains one of the leading property developers in the Philippines with a strong pipeline of projects.