Alphaland net profit surges to B

Alphaland reported a surge in its first-half comprehensive income, to 13.36 billion in 2018 from 1781 million in the same period last year due to brisk reservations for its Baguio Mountain Lodges Project and new Balesin Private Villa sales.

The firm said in a statement that there was also strong performance in the rental incomes in Alphaland Southgate Tower and Alphaland Corporate Tower.

Alphaland plans to introduce 2- and 3-bedroom lodges in its Baguio project, which will sell for half of the price of the current large 4-, 5- and 6-bedroom lodges. This should result in stronger sales for the second half of the year.

The firm is also constructing four more Balesin private villas, which will be for sale to large corporations to use as incentive for their customers. These private villas will be completed before the end of the year.

Additionally, Alphaland launched earlier this year a 250-room luxury serviced apartments project, The Alpha Suites. In just three months, it has already contributed to the company’s profitability.

The Alphaland Corporate Tower at Makati Place, consisting of 27,000 square meters, is now also fully leased.

Alphaland said it is presently evaluating a number of foreign investors (principally from Thailand and China), interested in investing in Alphaland. At the moment, however, no investment agreement has been signed. (JAL)