Philippines News Archives

Monday, January 18, 1999

AC ( 01/18/1999 : BW )
Ayala Corp. has asked the Supreme Court to restrain another developer from constructing a building beyond the 42-meter height restriction in the Makati central business district (CBD). It was the second time that Ayala haled a real estate firm to the High Tribunal in an effort to compel landowners to comply with the maximum 26-storey building limit. In its 16-page reply, Ayala pleaded the Court not to disturb its earlier ruling against Ray Burton Development Corp., which was enjoined from violating the height restriction in constructing the Trafalgar Plaza in Salcedo Village. In the deed restrictions given to landowners, Ayala limited the building to be erected on the lot to a height of not more than 42 meters and a floor area of not more than five times the lot area. Ayala instituted the present case of Rosa-Diana Realty and Development Corp., which the Court of Appeals earlier allowed to ignore the restrictions and proceed with the construction of a 38-storey building called The Peak.
- posted by StockMarket @ 2:59 PM

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