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Notes to Consolidated Financial Statements - 47 In 2013, based on current plans, AMPI revised the planned allocation in determining the 15% share of BSP on the Project. BSP’s share now consists of the BSP convention center located at the third floor of the Podium and a portion of Tower Three and parking spaces. Prior to 2013, BSP’s share consists of the BSP convention center and a portion of Tower One and Two. Total estimated cost to complete this portion of the project amounted to = P3,024.1 million and = P2,390.6 million as of December 31, 2013 and 2012, respectively. The condominium units are expected to be turned over to the buyers by 2015. As of December 31, 2013 and 2012, interests and amortization of deferred financing costs of the loan amounting to = P43.9 million and = P11.1 million were capitalized as part of land and development costs (see Note 17). AMPI received deposits from the sale of condominium units. As of December 31, 2013 and 2012, the current portions amounting to = P378.7 million and = P75.3 million, respectively, were presented under “Trade and other payables” account and the noncurrent portions amounting to P =0.8 million and = P44.7 million, as of December 31, 2013 and 2012, respectively, were presented under “Other noncurrent liabilities” account in the consolidated balance sheets, respectively (see Note 15). Alphaland Tower Alphaland Tower is a 34-storey building and with gross floor area of 67,909 square meters. This is located along Ayala Avenue and will be a premier high-end corporate office, known as “The Alphaland Tower”. About 86% of the net saleable area (36,270 square meters) is intended for lease; while the remaining 14% (6,014 square meters) is intended for sale. As of December 31, 2013, the building is substantially completed. Total estimated cost to complete the project amounted to = P14.3 million and = P38.9 million as of December 31, 2013 and 2012, respectively. As of December 31, 2013 and 2012, the interests and amortization of deferred financing costs of the loan amounting to = P17.2 million and = P7.5 million were capitalized as part of land and development costs (see Note 17). As discussed in Note 1, the Alphaland Tower will be sold pursuant to the definitive agreement signed by the major shareholder groups on June 5, 2014. b. Parking Lots for Sale In 2013, movements in parking lots for sale of the Alphaland Makati Place Project are as follows: Balance at beginning of year Transfer from investment properties (see Note 12) Cost of real estate sold (see Note 21) Balance at end of year These parking lots were fully completed as of December 31, 2013.

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P– = 322,785,282 (86,484,664) =236,300,618 P

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