Ayala Land sets plan to double profits in five years

MANILA, Philippines  —Property giant Ayala Land Inc. has set a five-year plan to double profits by 2028 as it ramps up spending on fast-growing segments such as shopping malls, which led the builder’s recovery during the postpandemic era, its new CEO Anna Ma. Margarita  “Meean” Dy said.

This would translate to growth of about 15 percent yearly, she said on Wednesday.

Ayala Land, one of the country’s biggest developers, has yet to release full-year financials for 2023. But its CEO noted that the performance was better across the business.

“I think we ended the year [2023] on a high note,” Dy said.

The developer would also expand and enhance its malls to cater to changing tastes.