Property giant Ayala Land Inc. (ALI) is set to unveil three new integrated estate developments as part of a P117-billion fresh inventory to be launched this 2017 as it seeks to take advantage of continuing opportunities in the domestic economy.
To expand its nationwide footprint, ALI said the three new mixed-use estate projects would total 310 hectares. The projects would rise in Kawit, Cavite, in Davao, and along the C5 corridor traversing Pasig and Quezon cities.
ALI’s expansion plan is in line with its goal to hit a P40-billion annual net profit by 2020. Coming from a net profit of P20.9 billion last year, ALI needs to post a compounded annual growth rate of 18 percent through 2020 to meet such a goal.
“What gives us confidence is, first of all, the economy continues to be robust … I think the economic drivers that are supportive of the property industry continue to be there, particularly mortgage rates which continue to be near historic lows; BPO (business process outsourcing) continues to be quite strong; OFW (overseas Filipino worker) remittances continue to be healthy and growing year-on-year; and, tourism—both domestic and international—continues to grow,” ALI president Bernard Vincent Dy told a press briefing yesterday after the property firm’s annual stockholders meeting.
With about 20 existing estate projects around the country and a total landbank of 9,852 hectares, Dy said ALI was well-positioned to take advantage of opportunities in the property sector.
The P117 billion worth of projects to be unveiled this year is higher than the P87 billion new launches last year. Of this year’s new launches, P100 billion would consist of residential inventory while the rest would be new estates and commercial projects, Dy said.
ALI senior vice president Anna Maria Margarita Bautista-Dy said the 250-hectare “Evo City” in Kawit would be the group’s initial foray in this first-class urban municipality, seen to enjoy another economic boom thanks to the Cavite-Laguna Expressway and the C5-Cavitex connection.
At the heart of Davao, meanwhile, would be the Azuela Cove, which would be built on a former lumber yard of the Alcantara family, ALI’s joint venture partner for this project.