MANILA -- Ayala will increase capital spending by 16% to 182 billion pesos ($3.8 billion) in 2021, the Philippine conglomerate says, with a large chunk expected to go to its main real estate and telecommunications segments.
Subsidiary Ayala Land invested 45.3 billion pesos over the first nine months of 2020 to develop residential buildings and commercial facilities, while the Globe Telecom unit devoted 33.4 billion pesos to building communications networks.
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