By James A. Loyola
Property giant Ayala Land, Inc. (ALI) reported an 18 percent growth in net income to P13.5 billion in the first half of 2018 from the P11.5 billion it reported in the same period last year.
In a statement, the firm said earnings growth was propelled by solid contributions from its property development and commercial leasing businesses.
ALI’s total revenues likewise climbed 25 percent from P64.5 billion to P80.4 billion as the company developed more sustainable mixed-use estates across the country.
Its performance remained robust and reflected a sustained demand for residential products.
Sales reservations reached P72.0 billion, 17 percent higher and equivalent to an average monthly take-up of P12 billion. Net booked sales registered at P50.4 billion, 25 percent higher than the previous total of P40.5 billion.
Total revenues from property development, which includes the sale of residential lots and units, office spaces, and commercial and industrial lots, amounted to P55.7 billion – 27 percent higher than the P43.7 billion in the first half of 2017.
Revenues from the residential business also grew by 32 percent to P47.7 billion from P36.2 billion, driven by new bookings and project completion across the residential brands.
Contributing to revenue growth were commercial and industrial lot sales which reached P3.9 billion, 16 percent higher than P3.3 billion in the same period last year.
This was due to the further strengthening of this segment in Arca South, Taguig, Azuela Cove in Davao, Ayala North Point in Negros Occidental, Alviera, Pampanga and Cavite Technopark in Naic.
ALI also recognized revenues of MCT Bhd, its equity investment in Malaysia, amounting to P4.0 billion in sales as it focused on the completion of its projects in Cybersouth, an integrated development in Southern Klang Valley, and its residential project, Lakefront, in Cyberjaya.