Ayala Land Inc., a pioneer in integrated mixed-use developments in the Philippines, was the real estate division of Ayala Corporation until it fully branched out on its own in 1988. Its beginnings are anchored on the development of Makati.
PHOTOGRAPH courtesy of Ayala Land Inc
Ayala Land Inc. (ALI) booked a net income of P11.5 billion in the first half of the year, supported by growth in its leasing and hospitality businesses despite challenges in the operating environment.
The property giant reported on Monday that revenues from January to June clocked in at P75 billion. In the second quarter alone, ALI recorded a topline of P37.5 billion and net income of P6.1 billion, with profit rising 13 percent from the previous quarter.
Posting positive contributions
ALI’s leasing and hospitality businesses generated P25.2 billion in first-half revenues, up 9 percent year-on-year, as all asset classes posted positive contributions.
Shopping center revenues rose 4 percent to P12 billion, driven by higher occupancy, increased foot traffic, growing merchant sales and early returns from completed reinvention works across flagship malls.
Hospitality revenues jumped 28 percent to P6.3 billion on the strong performance of renovated facilities and the contribution of New World Makati Hotel.
The company’s offices segment, meanwhile, generated P6 billion in revenues on above-industry occupancy rates and contracted escalations from existing leases.
Industrial real estate revenues increased 15 percent to P879 million, supported by solid occupancy across dry warehouse and cold storage facilities.
Property development largest revenue contributor
Property development remained ALI’s largest revenue contributor, generating P41 billion in the first half. Second-quarter property development revenues reached P20.6 billion, stable compared with the first quarter.
