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)

May 8, 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

30F Tower One and Exchange Plaza Ayala Triangle Ayala Avenue Makati City Philippines 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	13,664,949,759

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
Confirmation on the news article entitled “ALI raises P7 B bonds”

Source	The Philippine Star
Subject of News Report	“ALI raises P7 B bonds”
Date of Publication	May 7, 2017

Clarification of News Report
We respond to your letter seeking our clarification and/or confirmation on the news article entitled “ALI raises P7 B bonds” published in the May 7, 2017 issue of The Philippine Star. The article reported in part that: “. . . . The company is launching P117 billion worth of projects this year, including three sprawling mixed-used estates. This is higher than the P87 billion worth of projects the company launched last year, as the company remains optimistic on the prospects for the property sector amid low mortgage rates, strong dollar remittances from overseas Filipinos and the growing business process outsourcing (BPO) industry. ALI would spend P100 billion to beef up its residential portfolio while the balance of P17 billion would be for additional estates and commercial assets.” We would like to confirm the information contained in the news article entitled “ALI raises P7 B bonds” published in the May 7, 2017 issue of The Philippine Star. Thank you.
Other Relevant Information
none