Ayala Land Inc. (ALI) posted a net income of P13.5 billion, 18 percent higher than the P11.5 billion it reported in the same period last year, propelled by solid contributions from its property development and commercial leasing businesses. ALI’s total revenues likewise climbed 25 percent from P64.5 billion to P80.4 billion as the company developed more sustainable mixed-use estates across the country.

Its performance remained robust and reflected a sustained demand for residential products. Sales reservations reached P72 billion, 17 percent higher and equivalent to an average monthly take-up of P12 billion. Net booked sales registered at P50.4 billion, 25 percent higher than the previous total of P40.5 billion.

Total revenues from property development, which includes the sale of residential lots and units, office spaces, and commercial and industrial lots, amounted to P55.7 billion — 27 percent higher than the P43.7 billion in the first half of 2017. Revenues from the residential business also grew by 32 percent to P47.7 billion from P36.2 billion, driven by new bookings and project completion across the residential brands.