MANILA, Philippines — Earnings of property giant Ayala Land Inc. (ALI) increased by 15 percent to P21.2 billion in the nine months ending September, driven by resilient property demand and consumer activity.
Revenues generated by the company for the period rose by 27 percent year-on-year to P125.2 billion.
“We are pleased with the solid results delivered across our business lines,” ALI president and CEO Anna Ma. Margarita Bautista-Dy said.
“With signs of market headwinds clearing, coupled with our reinvention initiatives, we look forward to continue delivering high-quality products to our stakeholders,” she said.
Higher residential and commercial lot bookings fueled the company’s property development revenues, jumping by 34 percent to P76.6 billion during the nine-month period.
Likewise, residential revenues surged by 35 percent to P64.2 billion, while revenues from commercial and industrial lots jumped by 51 percent to P10.4 billion.
Office-for-sale revenues stood at P2 billion, mainly from project bookings.
ALI’s total launches for the period reached P45.6 billion, with a 51-49 split between vertical and horizontal projects.
Its notable launches in the third quarter were AyalaLand Premier’s Orchard Vistas at Anvaya Cove in Bataan and Ayala Greenfield Estates Brookside Park in Calamba, Laguna; Avida’s mid-rise condominium offering, Sentria Storeys Vermosa in Cavite and the second tower of Amaia Skies Sta. Mesa in the city of Manila.
Meanwhile, the company’s leasing and hospitality revenues saw an eight-percent jump to P33.2 billion driven by the contribution of new assets namely, One Ayala Mall and East and West Office towers, Ayala Triangle Gardens Tower Two and Seda Manila Bay.
Revenues from shopping center improved by seven percent to P16.7 billion, while hotel and resort revenues accelerated by 13 percent to P7.1 billion.
ALI’s capital expenditures during the three quarters amounted to P51.9 billion, of which 49 percent were spent on the build out of residential projects, 27 percent on estate development, 13 percent on leasing and hospitality assets and 11 percent on land acquisition commitments.