Ayala Land nets P15B
Property giant Ayala Land Inc. chalked up a nine-month net income of P15.06 billion, marking a 17 percent year-on-year increase on the back of a robust Philippine real estate sector.
Consolidated revenues reached P85.49 billion, 14 percent higher than the level in the same period last year, ALI disclosed to the Philippine Stock Exchange on Monday.
Revenues from real estate increased by 15 percent to P80.5 billion, driven by the sustained growth of the residential and office for sale segments, and the strong performance of shopping centers.
“Our financial results continue to be positive and reflective of a buoyant real estate industry. New
products introduced in our various estates in 2016 have started to contribute to our performance and
are expected to help sustain our growth moving forward,” said Bernard Vincent Dy, ALI president and
chief executive officer.
Total revenues from property development – which includes the sale of residential lots and units, office space as well as commercial and industrial lots – amounted to P52.61 billion in the past nine months, 12 percent higher than the level in the same period last year.
As an indicator of future revenue growth, sales take-up from residential and office for sale projects reached a total of P84.32 billion during the period, 2 percent higher year-on-year or equivalent to an average monthly sales take-up of P9.36 billion.
Ayala Land launched P49.2 billion worth of residential and office for sale projects in the past nine months of 2016.
Revenues from shopping centers rose by 15 percent year-on-year to P10.59 billion. The shopping center portfolio has a portfolio of 1.57 million square meters.
ALI’s office leasing portfolio also remained strong, generating revenues of P4.01 billion or 10 percent higher than the level posted in the same period last year. This was attributed to the higher average rental rates in existing office buildings and the positive contribution of new developments, such as Bonifacio Stopover and BGC Corporate Center in Taguig City. The company’s office gross leasable area stood at 753,000 square meters.
The hotels and resorts business grew nine-month revenues by 6 percent year-on-year to P4.57 billion, driven by the improved revenue-per-available-room of existing hotels and resorts developments. The group had a portfolio of 1,991 hotel rooms across international-branded hotels, Seda hotels and El Nido Resorts.
