‘We are reinventing our assets to deliver elevated and differentiated experiences to our customers, and we will continue to bring compelling and market-shaping residential offerings to Filipino homeowners’
Riding the continuous growth in property demand and consumer activity, Ayala Land Inc. (ALI), the real estate arm of the Ayala Group, gained a 15 percent boost in its net income during the first half of the year.
The company announced on Wednesday that the bottom line figure reached P13.1 billion, higher than the P11.3 billion in the same period last year.
“Ayala Land is hitting its growth targets across all business lines and market segments. Residential sales outperformed expectations. We will continue to pursue our growth trajectory with a keen eye on capital efficiency,” ALI President and CEO Anna Ma. Margarita Bautista-Dy said.
“We are reinventing our assets to deliver elevated and differentiated experiences to our customers, and we will continue to bring compelling and market-shaping residential offerings to Filipino homeowners,” she added.
Notably, ALI’s property development revenues increased 34 percent to P51.9 billion from January to June due to higher residential and commercial lot bookings.
Residential revenues experienced a significant increase of 40 percent, reaching P43.7 billion, while revenues from commercial and industrial lots witnessed a 19 percent growth, amounting to P6.3 billion.
However, office-for-sale revenues faced a 15 percent decline, totaling P1.8 billion, as a lower incremental percentage of completion of projects outweighed new bookings.
Reservation sales up 17 percent
On the other hand, residential reservation sales demonstrated a positive trend, increasing by 17 percent year-on-year, reaching P68.4 billion.
Ayala Land’s sales performance for the period translated to a monthly average of P11.4 billion — an acceleration from P9.5 billion in 2023.
During the reporting period, Ayala Land Premier’s Park Villas in Makati CBD, Alveo’s Park East Place in BGC, Sereneo in Nuvali, and Avida’s Verge Tower 1 in Mandaluyong, as well as The Courtyards Phase 3 in Vermosa, were the major drivers of sales performance.
Ayala Land introduced projects worth P33.7 billion, with 92 percent coming from premium brands and 52 percent from horizontal developments.
Meanwhile, leasing and hospitality revenues increased by 10 percent to P22.1 billion, driven by the higher occupancy of Ayala Mall Manila Bay, the contributions of One Ayala Mall and Offices, Ayala Triangle Tower Two, Seda Manila Bay, and the increased occupancy of Seda Nuvali and Lio.
Shopping centers saw an 8 percent revenue increase, reaching P11.1 billion, while office leasing experienced a 6 percent growth to P6.1 billion.
Hotel and resort revenues displayed remarkable growth, surging 19 percent to P5.0 billion.
Service businesses, encompassing sectors such as construction, property management, and airlines, witnessed a substantial 51 percent growth, reaching P8.4 billion.
Makati Development Corp.’s net construction revenue reached P5.5 billion, doubling the previous year’s figure due to additional contracts from external projects.
AirSWIFT, Property Management, and retail electricity supply companies collectively generated P2.9 billion in revenue, representing a 2 percent year-on-year increase primarily driven by airline sales and property management fees.
Of the P36.5 billion in capital expenditures, 51 percent was allocated to residential projects, 27 percent to estate development, 11 percent to
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