ABS-CBN Corporation said that it has signed a deal with Ayala Land Inc (ALI) for the sale of a portion of its property in Quezon City.
A Memorandum of Agreement was signed by ABS-CBN Corporation and Ayala Land on Feb. 27, 2025, for the sale covering 30,000 square meters out of the total 44,027.30 sqm of the property for P6.2 billion.
ABS-CBN will be consolidating its operations in the remaining 1.4 hectare of the Quezon City Property. Proceeds of the sale of property will be used to partially pre-pay its outstanding bank loans.
(Photo source: Instagram – ABS-CBN News)
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