Ayala Land earnings up 15% as premium condos entice
Recovering demand and consumer activity pulled up the earnings of property giant Ayala Land Inc. (ALI) in the first nine months of the year by 15 percent to P21.2 billion, with the Zobel family-led firm seeing growing interest for its premium developments.
Consolidated revenues in the January to September period jumped by 27 percent to P125.2 billion, driven by property development revenues, which swelled by more than a third to P76.6 billion.
READ: Ayala Land earnings up 15% to P21.2B
Residential revenues likewise expanded by 35 percent to P64.2 billion, while commercial and industrial lots surged by half to P10.4 billion.
“With signs of market headwinds clearing, coupled with our reinvention initiatives, we look forward to continue delivering high-quality products to our stakeholders,” ALI president and CEO Anna Ma. Margarita Bautista-Dy said in a statement.
According to ALI, the premium market buoyed residential sales reservations by 17 percent to P100.5 billion.
Article continues after this advertisementAs of end-September, the company has launched P45.6 billion worth of projects under AyalaLand Premier (ALP), Avida and Amaia.
