ALI net income up 16% to R29.2 B

Ayala Land, Inc. (ALI), the Philippine’s largest integrated property and sustainable estates developer, reported that its net income grew 16 percent to 129.2 billion last year.

In a press briefing, ALI Chief Finance Officer Augusto Bengzon said consolidated revenues climbed 17 percent to 1166.2 billion–driven by sustained demand for residential products and the healthy performance of its leasing businesses.

Property development revenues rose 18 percent to 1113.4 billion owing to strong sales across its residential, office for sale and commercial lot segments.

Meanwhile, leasing revenues grew 17 percent to 134.9 billion on the back of robust local consumption, the increasing demand in BPO offices and a thriving tourism sector.

“As we celebrated our 30th year in 2018, we remained focused on developing more sustainable communities that enrich the lives of Filipinos,” said ALI President and CEO Bernard Vincent O. Dy.

He adde that, “we introduced two new estates to bring our total to 26, registered the highest level of residential sales in our history, and stayed on track to open more commercial developments. These led to strong financial results and positioned our company for continued growth in the coming years.”

In 2018, ALI added two new developments to its roster of sustainable mixed-use estates – Park Links, a 35 – hectare urban estate located along the C5 corridor and a joint venture with Eton Properties; and Habini Bay, a 526-hectare estate in Laguindingan, Misamis Oriental.

Ayala Land launched 1139.4 billion worth of residential and office for sale projects in 2018. Reservation sales reached 1141.9 billion, 16 percent higher than 1122.0 billion of the previous year.

This was driven by strong demand from local and overseas Filipinos which accounted for 82ercent of total sales. Net booked sales grew 14 percent to 1110.8 billion from 196.9 billion in the previous year.

The company opened three new malls in 2018, namely, Circuit Mall in Makati with 52,000 sqm. of gross leasable area (GLA). Revenues from shopping centers reached 119.9 billion, 13 percent higher than a year ago.

ALI likewise completed new offices in 2018 to bring the current total GLA of Office Leasing to 1.11 million sqm. Driven by its new openings, Office Leasing revenues likewise rose 29 percent to 18.6 billion.