It was in 1964 that it all
started per my best recall. On that uneventful
year I started my job as agency clerk with an Ayala group of companies all
dealing with non-life insurance and reinsurance. The companies were FGU Insurance Corporation,
Philippine Guaranty Co. and Universal Insurance. Being the only employee of the Cagayan de Oro
Agency office, I was made to share some leftover space with another then very
popular Ayala life insurance company, Insular Life Assurance. We both occupied a good portion of the 2nd
floor of the Casino Kitchenette building along the corner of Tiano Bros. and
So. Divisoria Sts., in front of the Rizal monument in Divisoria Park .
Suddenly one summer day, our
office routines were upended with the arrival of a team of important-looking
officials all sent by Ayala Corporation.
It turned out to be quite a high-powered team, when it was assembled in
full force. There were marketing people,
a geologist, a lawyer, engineers, etc.
Some dressed ready to travel hard, noticeable by their Las Arenas cowboy
hats, which were quite popular then. Las
Arenas was another Ayala company which operated from Davao and though I thought it was in agriculture, also
produced those nice looking ten-gallon hats.
Many of us had them to parade around town.
This was the team sent by the
Head Office with one critical purpose in mind. That was to purchase real estate
in the then unheard-of place of Laguindingan, in the barrio of Moog. As long-time city residents all we knew was
that it was close to Alubijid and was indeed part of it at an earlier time.
So for the next several
months, this hardy and busy team toiled aided by support team members who drove
vehicles, or who knew the locale and the locals, or who were local legal eagles
versed in the intricacies of real estate ownership under unique local
conditions.
Countless sorties to the area were made, originating from our office which promptly became their local
office and their contact station for communications to or from the central
office. Team members also promptly
co-opted tables and chairs and office equipment from the regular office workers
for their work. And obscure me in my
little corner was not spared.
As the months passed, the developing
mysteries lurking in our minds begun to unravel. So in due time we learned that Ayala group
had gotten into a partnership with a Texas-based cement company to open up a
local cement factory to rival the then existing cement factories in
Iligan. The new company was named
Diamond Cement Corporation supposedly the same name as the US partner. Ayala was tasked with securing the
appropriate real estate for its site.
The targeted areas in Laguindingan were found to be geologically ideal
and perfect for such a factory, the soil being very rich in limestone.
There were both frenetic
actions and discussions all centering around the selling and acquisition of
real estate, with a cadre of lawyers making sure that documentation was proper
and legal. And in those idyllic days the
price of real estate, especially outside the city limits was not that enviable,
most of the land devoted principally to growing coconuts. But the many landowners in the area found
their golden opportunity to convert their inert and idle lands to ready
cash. So the rush to sell went unabated
until there was not much more to sell.
After a year or two, just as
quickly the kinetic activities tapered down as things imperceptibly went back
to normal. And I had in the meantime moved
on to another pursuit, another job.
But just the same I landed in
the lap of another Ayala company, this time their flagship company, Bank of the
Philippine Islands. Again the talk about
the proposed cement factory surfaced.
And as I recall we did open an account under the name of Diamond Cement
Corporation. But just the same nothing
much developed with regard to the proposed partnership with the US-based
company. Until some global disturbances brought
out the news that the protracted waiting would end since the US company had backed out.
Notwithstanding, our banking
relationship with the proposed company continued because after all there was
some money to be made with the huge estate bought by the Ayalas. Of course, just how big it was I never knew
personally but I shall revisit this topic later. Since the estate was planted to coconuts, the
owners became coconut harvesters, selling copra as their product.
Some years later in the early
70’s, the head honcho of BankPI, Enrique Zobel had an airstrip made in Barrio
Moog close to the ocean so he would be able to land his private plane when he
visited the BankPI branches of Mindanao or when he went on his private leisure
trips. Like scuba-diving? And usually,
officers of the bank would get the honors of picking him up from his private
airstrip.
So fast-forward almost 50
years later and that site has become the newest airport, reputedly of
international airport caliber, of Cagayan de Oro. And auspiciously, we see the current head
honcho of Ayala in the person of Jaime Augusto Zobel Ayala (JAZA) as one of the
more important guests during the airport’s inauguration this week, and who
appeared to be all smiles.
And why not! He has all
reasons to be happy, not only for having opened recently the newest Ayala mall
in the city’s downtown, but because its Laguindingan estate surrounds or abuts
this newest airport.
So how big of a real estate
goldmine is Ayala sitting on in Barangay Moog, Laguindingan? The airport complex is listed as being
contained in an area of 4.17 square kms. Or translated differently, about 400 hectares . Now remember
part of this was donated – presumably by Ayala.
So can we assume that the original estate of Ayala was about 1000 has.
or about 10 square kms. at least?
Is Laguindingan big enough to
accommodate such a size? Yes, its total
area composed of 11 barangays is about 44 square kms.
So funny-sounding Barangay
Moog has gained nationwide renown from this point on. All because of a botched partnership,
derailed by a global disturbance?