ALI nets P10.8B in 9 months

MANILA, Philippines — Property giant Ayala Land Inc. posted a net profit of P10.8 billion for the first nine months of the year — a 25-percent jump from a year ago on the back of robust property development, commercial leasing, and services business units.

Consolidated revenues reached P68.3 billion for the period, 20 percent higher than the level in the same period last year, ALI said in a regulatory filing on Friday.
“As we continue to build integrated communities across the country, we remain focused on the execution and delivery of our various projects. We also continue to aggressively pursue new opportunities for development, given the robust growth of the economy,” said Bernard Vincent Dy, ALI president and chief executive officer.

ALI’s property development business, which includes the sale of residential lots and units, office spaces as well as commercial and industrial lots, racked up revenues of P47 billion, 26 percent higher than the level last year. Revenues from the residential segment alone grew by 40 percent to P40.1 billion during the period, driven by strong bookings and project completions across all segments.

Various brands contributed to the growth in revenues from residential development as in the first nine months versus the comparative period last year as follows:

* Upscale Ayala Land Premier grew its revenues by 63 percent to P18.5 billion, mainly due to significant bookings from residential lots in Soliento in Nuvali, The Courtyards in Bacoor, Cavite, Ayala Westgrove Heights in Silang, Cavite and Ayala Greenfield Estates in Calamba, Laguna and high-value condominium units such as East Gallery Place in Bonifacio Global City, Two Roxas Triangle and Garden Towers in Makati and Arbor Lanes in Arca South;

*Alveo grew revenues by 11 percent to P7.2 billion, attributed to the higher sales and completion of its new and existing projects such as High Park in Vertis North, Verve Residences and Sequoia in Bonifacio Global City, Solstice in Circuit and Kroma and Escala in Makati;

*Avida grew revenues by 11 percent to P9.2 billion anchored on higher contributions from Avida Towers Vita in Vertis North, Avida Towers BGC 34th Street, Avida Towers Verte in Bonifacio Global City and Avida Towers Riala in Cebu;

*Amaia grew revenues by 65 percent to P2.4 billion, primarily driven by the strong sales of Amaia Steps Nuvali; and

*BellaVita revenues more than doubled to P75.8 million due to bookings generated by its projects in General Trias and Alaminos.

Meanwhile, revenues from shopping centers grew by 9 percent to P8.3 billion from the same nine-month period last year. Total gross leasable area (GLA) expanded by nine percent year-on-year while occupied gross leasable area (GLA) was also up 6 percent.

ALI also saw a 19 percent increase in its revenues from office leasing operations to P3.1 billion as total GLA went up by 4 percent while occupied space expanded by 11 percent.

The company’s hotels and resorts business also grew revenues by 37 percent to P4.0 billion from P2.9 billion in the same period last year on the back of improved performance of new hotels and resorts.