Ayala Land 2016 profit grows 19% to P20.9B

(ALI) said on Wednesday its net - brisk property development and the steady performance of its com

the company aims to grow its prof

In a statement, ALI said its con - -

-

president and chief executive of

the company continues to be well positioned to capitalize on the -

- brands Ayala Land Premier, Al

performance of its established malls and the contribution of new malls such as Solenad and UP

Office leasing revenues in on the increasing contribution of Town Center BPO and Bonifacio Stopover at Bonifacio Global City hotels and resorts business was

- (sqm) of gross leasable space for its malls due to the completion of new malls like Ayala Malls Legaspi and Ayala Malls South Park, of commercial space from Tu Center is under ALI through its acquisition of a majority interest

Total gross leasable space in sqms after the addition of newly Hotels and resorts posted a total of opened Casa Kalaw at Lio in El Nido, Palawan and Balay Kogon

“Last year, we launched a good mix of residential and commercial properties in both our established government’s thrust to increase spending on infrastructure, we also plan to accelerate the development of our estates that are closely

The company introduced two key mixed-use developments last year— One Ayala at the Makati central business district (CBD) and in Mandaue, Cebu City, bringing

Bigger capex this year

capital expenditures (capex) this year, up from the actual spend Jaime Ysmael, the company’s chief

- pex will go to residential projects,

Ysmael said this year’s capex will be mainly funded by internally generated cash with about

This year, the company plans to complete seven shopping cen recently opened Ayala Malls The North in the Quezon City CBD, Ayala Malls Feliz in Cainta, and Ayala Malls One Bonifacio High

ALI will also open this year its largest Seda hotel at Vertis North and its first resort- type hotel, Seda Lio in El Nido, Palawan