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| Ayala in a Changing Environment |
The later part of the 20th century saw diverse and profound changes in Philippine economic and business, and Ayala responded to them readily.
In 1948, Ayala unveiled a 25-year urban development program for what remained of Hacienda Makati, a master plan envisioned to create areas that complemented and enhanced each other's value. Within that period, Makati emerged as the new financial, business, and commercial center of the country with residential communities that set the standard for property development.
Hotel InterContinental Manila |
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Later, in 1969, with Philippine tourism starting to show its great potential, Ayala opened Hotel InterContinental Manila, the first five-star hotel in Makati. The following year, it acquired land in Alabang, a raw-land area, where decades later it would build a new Philippine premiere residential, commercial and business district.
To pursue plans for further diversification, the Ayala y Cia partnership was dissolved in 1968 and replaced with a modern entity, Ayala Corporation. |
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Foreign investment became a focal point for national development, and in 1973 Ayala signed with Mitsubishi Corporation of Japan a Business Collaboration Agreement, for joint exploration of new investment opportunities in the Philippines.
Meanwhile, other Ayala enterprises continued to grow. In 1974, BPI acquired People's Bank and Trust Company, and began an expansion mode that would continue through to the 21st century. |
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Modern Alabang |
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Globe-Mackay Cable
and Radio Corporation |
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Also that year, Ayala invested in Globe-Mackay Cable and Radio Corporation, the potentials of which would be realized decades later as Globe Telecom, Inc.
In 1980, Ayala established Integrated Microelectronics, Inc. to engage in electronics manufacture, entering a field where few other established Philippine conglomerates had gone and succeeding to the extent of becoming a major regional operation.
In 1982, BPI pioneered 24-hour ATM banking in the Philippines with Express Teller. For years on, it would continue leading the industry in introducing cutting-edge systems, including Internet banking and phone banking. |
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In 1988, Ayala, BPI, and Mitsubishi Corporation created Ayala Systems Technology, Inc. as a software development business.
The role of state-of-the-art technology in Ayala's ventures grew significantly in 1993, when Ayala entered the field of modern telecommunications. Out of Globe-Mackay Cable and Radio, Ayala created a phone company, Globe Telecom. A partnership with Singapore Telecom, Globe soon became the prime challenger to an erstwhile long-running monopoly.
Ayala Land meanwhile had begun diversifying and expanding to include a nontraditional market, the midrange property segment. In 1991 it formed Laguna Property Holdings Inc. as a separate vehicle to focus on this market. This diversification would bring the Ayala property brand to various emerging markets around the Philippines.
Major new opportunities arose in subsequent years and Ayala acted on them strongly and successfully. |
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In the 1990s, Ayala invested in assembly operations and dealership of Honda and Isuzu motor vehicles.
In 1997, Ayala participated in the government's infrastructure privatization program and won the landmark auction of one of Metro Manila's water distribution services. For this unprecedented entrepreneurial thrust, Ayala formed Manila Water Company, Inc. which fast attained such success as to be listed on the stock exchange a few years later.
Ayala also became a catalyst for Internet and wireless technology use in the Philippines with investments in e-commerce websites, an e-procurement portal, and Asia's first free email service provider, Edsamail. |
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Automotive Dealership |
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Through its positive responses to a changing business environment, Ayala has proven that large and long-established institutions can succeed in entrepreneurship and that way contribute further to national growth.
Also through them, it has generated significant opportunities in a way unmatched in the Philippine capital market. Five Ayala companies are on the 30-company Philippine Stock Exchange index—namely, Ayala Corporation, Ayala Land, Inc., Bank of the Philippine Islands, Globe Telecom, Inc., and Manila Water Company, Inc. |
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Ayala Timeline
For 175 years, Ayala has prospered as an innovative Filipino business house.
Launch the Timeline |
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