SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Dec 1, 2016

2. SEC Identification Number

152747

3. BIR Tax Identification No.

000-153-790-000

4. Exact name of issuer as specified in its charter

AYALA LAND, INC.

5. Province, country or other jurisdiction of incorporation

MAKATI CITY, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

31F Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226 Postal Code 1226

8. Issuer's telephone number, including area code

(632) 750-6974

9. Former name or former address, if changed since last report

Not Applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	14,712,682,588
Preferred Shares	13,066,494,759

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala Land, Inc.ALI

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification - ALI spending up to P85 B in 2017

Source	The Philippine Star
Subject of News Report	ALI spending up to P85 B in 2017
Date of Publication	Dec 1, 2016

Clarification of News Report
We respond to your letter seeking our clarification and/or confirmation on the news article entitled “ALI spending up to P85 B in 2017” posted in The Philippine Star (Internet Edition) on December 1, 2016. The article reported in part that: “Ayala Land Inc., the property development unit of the Ayala Group, expects its capital expenditures in 2017 to be at about the same level as this year’s capex program of roughly P80- to P85-billion, its top official said. ‘In 2016, our capex is basically P80- to P85-billion. It’s safe to say we continue to flat out across all businesses so we don’t expect significant differences (on capex) based on the levels we’re seeing,’ ALI president Bernard Vincent Dy said in a recent interview. . . . .” We would like to confirm the accuracy of the information indicated in the article.
Other Relevant Information
none