Ayala Corporation (Ayala) is a Philippines-based holding company of diversified business groups. The Company operates in segments, such as real estate and hotels; financial services and bancassurance; telecommunications, electronics, information technology and business process outsourcing services; water utilities; automotives; international, and others. The real estate and hotels segments activities include planning and development of residential and commercial communities; development and sale of residential and commercial lots, and the development and leasing of retail and office space and land in these communities. Financial services include universal banking operations; commercial, consumer, mortgage and agribusiness loans; leasing; payment services, and bancassurance operations. Automotive is engaged in the manufacture and sale of passenger cars and commercial vehicles. International is engaged in investments in overseas property companies and projects.