MANILA, Philippines – Known for quality products and catering to upscale consumers, Ayala Corp is embarking on a new business strategy.
The Philippines’ oldest conglomerate is expanding its offerings to “lower and lower income groups in the country,” CEO Jaime Augusto Zobel de Ayala told Rappler in an interview on Friday, April 20.
“We’ve had to change our strategy and produce services that are cost-effective and relevant,” he said.
Across the board, the many arms of Ayala Corp are reaching out to reach the middle and lower classes.
Builder Ayala Land will construct a majority of its 2012 residences for the low-cost housing brand Amaia and the even more affordable socialized housing brand BellaVita, according to Ayala Land President Antonino Aquino.
Meanwhile, Globe Telecom is anxious to bid for more spectrum, which would allow it to serve current and future customers faster, as even mid-level consumers turn to smart phones.
Moreover, Manila Water wants to connect more low-income residents in Rizal and expand its waste water treatment facilities in East Manila where only 16% of homes are connected to a sewer, according to Manila Water Corporate Communications head N Jeric T Sevilla.
Ayala Corp’s CEO also signaled that the company would get more involved in transportation and power projects, which anticipates growing demand as the population continues to multiply.
“We’re excited about touching lower and lower price points in our economy and being as relevant to those markets as we have to the high end,” said Zobel de Ayala.
The move may be ideal for those searching out good quality at good prices. Zobel de Ayala added, “Hopefully, we’ll have the same kind of level of service and quality we’ve been known for over the years.” – Rappler.com