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Poor sales, construction delays: Ayala Land Premier revenues plunge 39%

Ayala Land’s luxury residential projects took a big hit in 2020 due to lower sales and delayed construction brought about by the pandemic.

Ayala Land Premier (ALP) reported a 39 percent drop in revenues to P15.01 billion in 2020 from P24.45 billion in 2019. This is the second straight year that revenues have been in decline since ALP hit record revenues of P28 billion in 2018.

The company cited lower percentage-of-completion of West Gallery Place in Bonifacio Global City, Park Central South Tower and Garden Tower 2 in Makati central business district and Arbor Lanes in Arca South.

ALP also reported lower bookings from Park Central North Tower in Makati CBD.

Its projects outside Metro Manila were weighed down by poor sales and construction delays – The Alcoves in Cebu and Cerilo in Nuvali.

ALP launched only two sequel projects in 2020 – Phase 3A and 4 of Andacillo in Nuvali, Laguna.

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