Real estate developer Ayala Land, Inc. (ALI) ended the first half of the year with an 8 percent rise in net income to P14.2 billion, powered by robust property sales and record-breaking leasing and hospitality revenues.
In a stock exchange report on Wednesday, the company said consolidated revenues climbed to P83.1 billion, underscoring the strength of its diversified portfolio.
First-half property development revenues stood at P52.3 billion, fueled by strong commercial and industrial (C&I) lot sales and resilient bookings from the premium residential segment.
Residential revenues hit P41.3 billion, mainly from higher recognized revenues of AyalaLand Premier and Alveo projects.
C&I revenues jumped 42 percent to P9.1 billion from lot sales in Arca South in Taguig City, Circuit Makati, and Arillo in Batangas, while offices-for-sale revenues rose 5 percent to P1.9 billion.
Sales reservations for the period totaled P73.7 billion, averaging P12.3 billion monthly, up 4 percent from last year’s monthly average. Premium residential sales accounted for P40.6 billion, while C&I lot sales rose 7 percent to P8 billion.
Core residential sales climbed to P25.1 billion, with second-quarter take-up growing 11 percent year-on-year and 39 percent quarter-on-quarter.
“Our sales momentum is improving, and we are preparing for a busy second half with P57 billion in new property development launches, and the completion of reinvention works of malls and hotels,” ALI President and CEO Anna Ma. Margarita Bautista-Dy said.
“These initiatives will support our growth aspirations for 2025 and beyond.”
From January to June, the company launched P42.9 billion worth of projects, including ALP’s Laurean Residences in Makati, commercial lots at Areza in Lipa City, and industrial lots at Cavite Technopark.
Leasing and hospitality revenues reached a record P23.2 billion, up 5 percent, despite ongoing renovations in flagship malls and hotels.
Shopping center revenues rose 5 percent to P11.6 billion, office leasing revenues increased 5 percent to P5.9 billion, and hospitality revenues stood at P4.9 billion on healthy occupancy rates despite 900 rooms under renovation.
Industrial real estate revenues surged 60 percent to P762 million from new facilities and AREIT-owned industrial land.
ALI spent P40.2 billion in the first half, with 42 percent allocated to residential projects, 25 percent to leasing and hospitality, 23 percent to mixed-use estates, and 10 percent to land acquisition.