UP Ayala Land Technohub is paying the University of the Philippines more than what Palace recently claimed, Ayala Land Inc. (ALI) said on Monday. The property firm claimed that UP is receiving P171 per square meter (sqm) monthly, in accordance to the leasing agreement it signed with UP. “After 2033, UP as owner will receive 100 percent of the buildings’ rent,” it added. Over the weekend, Palace spokesman Salvador Panelo said that Ayala Technohub could be subject to investigation for allegedly paying rent for less than P20 per sqm in the last 25 years. Ayala Land and UP signed the lease agreement in 2006.

Source: Manila Times January 20, 2020 14:35 UTC