Ayala Land rolls out P174B property development projects, books P33.2B profit
Ayala Land Inc. (ALI) continued to be a key driver of activity in the Philippine real estate market with the launch of P174 billion worth of new projects last year to reach a wider client base.
Of the total, P15.1 billion comprised malls, offices and hotel resorts.
ALI spent P109 billion for capital expenditures in 2019, representing 64% of gross revenues.
“We continue to serve new areas in the country and reach out to a broader market with more affordable products. This is in line with our mission to enrich the lives of more Filipinos. Furthermore, we continue to invest in all our existing estates which help spur economic activity in their respective localities,” said Bernard Vincent O. Dy, president and CEO of ALI.
ALI sustained its steady growth as net income rose 13% to P33.2 billion last year while total revenues slightly went up to P168.8 billion, driven by office, and commercial and industrial lots sales as well as higher contributions from new leasing formats.
Revenues from property development reached P117.6 billion while sales reservations increased by 3% to P145.9 billion.
To serve the broader housing markets, ALI’s low-cost housing brands Avida, Amaia and Bellavita turned over 11,476 units in 2019.
Among its major launches for the year include the P18 billion Cresendo in Tarlac (ALI’s 29th estate to date), the 120-hectare Broadfield which is planned as a new commercial and industrial district in Binan, Laguna, and the 11-hectare Junction Place in the Novaliches-Quezon City area.