Ayala Land Halts Luxury Tower Sales Amid Rising Costs Due to Iran Conflict
Ayala Land, a major real estate developer in the Philippines, has paused the construction and marketing of its luxury residential project, Laurean Residences, in the Makati central business district. This decision comes as construction costs have surged due to the ongoing conflict in Iran. The company has reached out to buyers to discuss options such as refunds or reallocating payments to other projects. The Laurean Residences, which was set to be the tallest residential skyscraper in the country, had already generated significant sales before the halt. The project is part of a larger mixed-use development and offers high-end amenities. Ayala Land is now focusing on projects with clearer execution timelines and those that provide recurring income, like shopping malls and office buildings. 
