ALI unit to invest P15-B each in new locations

AYALA Land Premier ( ALP), the luxury brand of property giant Ayala Land, Inc. (ALI) said it will develop three new locations this year and will invest between P10 billion and P15 billion per location.

“We are launching three more new locations this year,” Ayala Land Premier sales and marketing head Paolo Viray told a news conference in Makati City on Wednesday.

the new projects will rise were not disclosed, but Viray said ALP is now in talks

The land bank has been secured already, he added.

“The permitting process takes about six months before we can launch it... We’re still planning it,” Viray said.

The Residences Tower 2 seen to generate P3-B sales

Meanwhile, ALP also said it was able to generate P2.6 billion in sales from the first tower of The Residences in Azuela Cove in Davao.

The Residences is a two-tower, 21-story development located on a 10,000-square-meter (sqm) area in DEL Monte Pacific Ltd. (DMPL) said its Philippine subsidiary registered a net income of P2.6 billion in the fiscal year to April 2018, slightly lower than that of the previous year, due to higher interest expenses.

DMPL, however, said it was optimistic that Del Monte Philippines, Inc. (DMPI) would generate higher profits in the current fiscal year to April 2019 as exports were expected to improve on the back of a better sales mix, with higher fresh pineapple sales under the S&W brand and increased export margins from pricing, cost management, and operational efficiencies.

DMPI’s operating income in FY2018 grew 2 percent to P3.3 billion.

DMPI generated P27.6 billion in net sales in FY2018, of which a large chunk came from its core Philippine market and the balance from exports.

Sales in the Philippines expanded by 6.7 percent to P16.9 billion— offsetting the 1.9 percent decline in export sales of P10.6 billion—resulting in a 3.4 percent growth in total DMPI sales.

Exports, which come from S&W brand, in May this year. The company said it was sold out upon launch date.

- room units with sizes ranging from 181 sqm to 196 sqm, and two fourbedroom units at the penthouse level. All units come with 13-sqm and 25-sqm balconies, respectively.

Prices per unit range from P33 million to P81 million, while the average price per sqm stands at

tax and parking fee.

Viray said approximately 70 per-

by Davao residents, while 15 percent was purchased by Manila residents and 15 percent from other provinces and abroad.

Meanwhile, ALP expects the second tower to ring up P3 billion in sales as prices are seen to increase by up to 10 percent then.

The second tower will have up to 20 levels comprising 77 residential units with gardens. Excavation has already commenced.

Viray said the group expects the same strong demand for the second building. grew from less than half to nearly two-thirds of total sales as DMPI changed its sales mix to focus on its growing branded business.

The company expanded its sales under S&W fresh and processed pineapple at a compound annual growth rate (CAGR) of 28 percent to P3.7 billion in Asia and Middle East markets, while it reduced its private label and commodity business during this period. S&W fresh sales rose more than ten-fold in the past 10 years.

Philippine market sales in FY2018 were higher by 6.7 percent at P16.9 billion as food service sales surged by 15 percent to P3 billion, riding on the rapid expansion of quick service restaurants and convenience stores as well as the company’s growth of its juice dispensers, meal partnerships and customized products.

In retail, the packaged fruit and culinary categories grew by 7.9 percent and 7.7 percent, respectively.

Earlier this month, DMPI deferred its planned P17.5 billion initial public offering, citing volatile market conditions.