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Aug 11, 2016 @ 11:33

Ayalas roll out P42B worth of residential projects in Jan-June

 

Ayala Land Inc. appears pretty much done with its project launches for the year after rolling out P42 billion worth of residential projects in the first half.

Bernard Vincent Dy, president of Ayala Land, said the succeeding launches would depend entirely on market demand.

Dy said the projects launched representr “80 to 100 per cent” of the scheduled project launches for the year.

For the remainder of the year, Ayala Land will focus on its 19 estates where a mix of residential, commercial spaces and hotels are up for development.

The company is currently developing Circuit Makati, Arca South in Taguig, Vertis North and Cloverleaf in Quezon City, Vermosa in Cavite, Altars in Bulacan, Alviera in Pampanga, Atria Park District in Iloilo City, Capitol Central in Bacolod City, and Gateway Central in Mandaue City.

A partnership with Aboitiz Land, the 17.5-hectare Gateway Central will have residential, office and retail projects.

Ayala Land has also began construction of a P19 billion modern mixed-use and transport-oriented project within the Ayala Centre, which is planned as the future archway of the Makati Central Business District.

“We are also focusing on sustainability and making sure we have estates that serve not only today’s market, but the next generation of consumers as well,” he said.

The property giant reported a 16 percent jump in its first half profit to P9.74 billion as revenues rose eight percent to P54.76 billion.

“Ayala Land continues to capitalize on the growth in the real estate sector. Our established estates drove our performance, alongside increasing contributions from similar mixed-use developments that we’ve launched over the last five years,” Dy said.

Residential sales went up eight percent tot P31.09 billion while revenues from the office segment surged 43 percent toP3.38 billion. Sales of commercial and industrial lots expanded by 42 percent to P1.6 billion.

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