PROPERTY giant Ayala Land Inc. grew its net profit last year by 26 percent to P14.8 billion on the back of robust revenues booked from the residential development and leasing portfolio segments.
Consolidated revenues for the full year 2014 reached P95.2 billion, 17 percent higher year-on-year, which the company attributed to its ability to seize opportunities for growth amid positive market conditions.
“We are pleased with the performance of each of our business lines in 2014 and their contributions to our overall growth,” ALI president Bernard Vincent Dy said in a press statement on Monday.
“Moving forward, we will continue to introduce new residential projects and scale-up our commercial leasing operations in support of our 2020 Vision.”
The 2020 vision seeks to ALI’s net profit by 20 percent each year in the next six years, with the end-goal of breaching the P40-billion mark by the year 2020.
ALI launched four estates last year – Alviera Pampanga, Altaraza Bulacan, Arca South Taguig, and Atria Park District Iloilo – which opened up to new development over 1,200 hectares of land.
“Opportunities that will allow us to build integrated sustainable developments will remain our top priority. Not only do these estates become great places to live and work, but they also provide business and job opportunities to many Filipinos.” Dy said.
On property development – which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots – ALI reported revenues of P65.9 billion in 2014, 21 percent higher the level reported in 2013.
Revenues from the residential segment reached P55.9 billion last year, 26 percent higher than the previous year’s results, driven by strong bookings and project completion across all residential brands.
Residential units Alveo and Avida, which ventured into office development, reported aggregated revenues totaling P5.3 billion from their new offices, a four-fold increase from the previous year. The growth was driven by successful bookings in their developments, namely High Street South Corporate Plaza Towers, Park Triangle Corporate Plaza and One Park Drive in Bonifacio Global City.
ALI reported that market acceptance remained high as sales take-up for 2014 expanded by 11 percent against the previous year. “Sales across our various residential brands continue to be good, and we thank our customers for their continued trust,” Dy said.
Similarly, total revenues from commercial leasing business – which includes the company’s shopping centers and office leasing as well as hotels and resorts operations – amounted to P21.2 billion in 2014, 18 percent higher than the level in the same period last year. Revenues of the hotels and resorts business likewise grew by 40 percent to P5.6 billion in 2014, primarily driven by the improved performance of new hotels and resorts.