Sister companies Ayala Land Inc. and Manila Water Company have signed a memorandum of agreement to jointly develop and operate a water and wastewater utility service company to serve the Ayala Land Group’s real estate developments south of Manila.

In a disclosure to the Philippine Stock Exchange, MWC said the ALI group is composed of ALI, Avida Land Corporation, Alveo Land Corporation, Ceci Realty Inc., Aurora Properties Inc. and Vesta Property Holdings Inc.

The areas to be served by the utility firm include all the projects of the firms under the ALI group including its showcase community Nuvali. The agreement also intends to cover other property developments in the area.

Under the agreement, the parties shall form a joint venture company (JVC) which will serve as the water and wastewater planning, developing and operating vehicle for the target real estate developments.

Key management officers of both Manila Water and Ayala Land will compose the JVC’s management and operations team who will be responsible for the overall direction and control of the JVC and the formulation of its policies.

Through this partnership, MWC and ALI seek to leverage on their key strengths and core competencies, providing synergies in establishing a competent and reliable organization that will provide world-class water and wastewater services to its customers to ensure quality living and enhance sustainable communities.

Manila Water, under its concession agreement with the Metropolitan Waterworks and Sewerage System, has successfully provided 24-hour water supply to more than six million people in its concession area composed of 23 cities and municipalities of eastern Metro Manila and the Rizal Province.

MWC also provides sewerage and sanitation services to its customers, which currently operates the country’s largest sewer network with full treatment and the most number of wastewater treatment plants with the biggest treatment capacity.

On the other hand, ALI has established itself as the most trusted and respected full-line real estate firm in the country for over eight decades.