ALI ind'l unit heating up cold storage business

The industrial real estate unit of property giant Ayala Land Inc is heating up its cold storage business as it looks to become a major player in the segment over the next five years.

- RICHMOND MERCURIO

Since entering the cold storage business in 2021, AyalaLand Logistics Holdings Corp. (ALLHC) has been ramping up the expansion of its cold storage footprint to address the growing demand for temperature-controlled facilities in the country.

ALLHC president and CEO Robert Lao told The STAR that the company aims to be one of the major players in the cold storage space in the next five years.

"We want to be a major player. We may not be the top because we're catching up and there are other established players but hopefully in five years we will play a significant role," Lao said.

Lao said the company would utilize Ayala Land's expansive landbank to expand its portfolio.