Boulevard Holdings, Inc. (BHI) claims Ayala Land, Inc. (ALI), through Ayala Land Premiere head Jose Juan Jugo, offered 2 weeks ago to buy the entire property or roughly 1,000 ha. of the complex located in Ternate, Cavite.
After asking ALI Pres. Bernard Vincent Dy to elaborate, Dy denied a new offer was made.
Puerto Azul has attracted several foreign investors, including a consortium of Indonesians and Chinese, which have already inspected the property.
After reaching a PHP 2.3 billion deal in March, ALI scrapped the plan to develop 400 ha. out of the 3,000 ha. Puerto Azul complex, citing issues on profitability and the need to deploy capital for its PHP 75 billion-integrated mixed-use project in Porac, Pampanga.