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)

Feb 16, 2017

2. SEC Identification Number

152747

3. BIR Tax Identification No.

000153790000

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, Philippines Postal Code Postal Code Postal Code 1226

8. Issuer's telephone number, including area code

(632) 7506974

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. Other Events

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: Residential sales drive ALI profit higher in 2016

Source	Business World (Internet Edition)
Subject of News Report	Residential sales drive ALI profit higher in 2016
Date of Publication	Feb 16, 2017

Clarification of News Report
We respond to your letter seeking our clarification and/or confirmation on the news article entitled “Residential sales drive ALI profit higher in 2016” posted in Business World (Internet Edition) on February 16, 2017. The article reported in part that: “. . . . To sustain its growth, Ayala Land earmarked about P88 billion for capital expenditure this year, an increase from the P85.40 billion disbursed in 2016. The company will spend P40.7 billion on residences, P11.8 billion on malls; P10.6 billion on land acquisition; P9.2 billion on offices; P5.5 billion on estates; P4.4 billion on hotels and resorts; and 4.9 billion on others. . . . .” We would like to confirm that Ayala Land has allotted P87.6 billion for capital expenditure this year, an increase from the P85.40 billion disbursed in 2016 and that the breakdown of projected spend is P40.7 billion on residences, P11.8 billion on malls; P10.6 billion on land acquisition; P9.2 billion on offices; P5.5 billion on estates; and P4.9 billion on other costs. We would like to clarify that the projected spend for hotels and resorts development is at P4.8 billion.
Other Relevant Information
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