PROPERTY giant Ayala Land Inc. grew its net income last year by 19 percent to P17.6 billion as it unlocked a double-digit growth in revenues from residential development as well as shopping mall and office space leasing.
Consolidated revenues reached P107.2 billion, 13 percent higher than the P95.2 billion it posted in the previous year, ALI disclosed to the Philippine Stock Exchange on Friday. The growth was also buoyed by improved margins across its product lines.
“We are pleased with the company’s performance in 2015,” said Bernard Vincent Dy, ALI president and chIef executive officer. “Our established and emerging estates provided the backbone for our sustained growth while we continue to introduce new estates that will further contribute to it in the coming years.”
ALI said a diverse offering of residential and commercial products was on the rise in ALI’s master-planned estates all over the Philippines, amplifying its presence in key growth centers of the country.
The company introduced three new integrated mixed-use estates in 2015. These were the 11-hectare Cloverleaf in Quezon City, the nine-hectare Capitol Central in Bacolod, and the 700-hectare Vermosa in Cavite.
Revenues from property development – which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots – amounted to P67.9 billion in 2015, 10 percent higher than the P61.8 billion reported in 2014.
Revenues from the sale of residential lots and units reached P58.4 billion, 12 percent higher than the P52.3 billion posted in 2014, driven by bookings and project completions across the company’s residential brands namely Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita. In addition, reservation sales reached a total of P105.3 billion.
Meanwhile, ALI’s revenues from commercial leasing amounted to P24.5 billion in 2015, 16 percent higher than the P21.2 billion recorded in the previous year.