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MANILA, Philippines – Ayala Land, Inc. (PSE:ALI) reported a steady performance during the first nine months of 2016 with a net income of P15.06 billion.
The net income of the property company improved by 17 percent from its registration of P12.83 billion last year. The consolidated revenues of Ayala increased by 14 percent from P75.05 billion to P85.49 billion. Real estate sales increased to P80.50 billion, which is a 15 percent growth. This is due to shopping centers’ strong performance and stabilized expansion of residential and commercial segments.
ALI pursues the expansion of its different property offerings in its present roll of 19 merged developments for variety of uses.
In Makati, One Ayala’s development is ongoing, which is a complex that will provide an intermodal transport hub at Ayala Avenue and EDSA’s corner. Around the hub, there will be an office certified by Leadership in Energy and Environmental Design (LEED), Seda hotel with 600 rooms, and condominium-for-lease building with 300 units.
New developments were also unveiled in Taguig’s Arca South and Bonifacio Global City, Circuit Makati, Quezon City’s Vertis North, Laguna’s Nuvali, and Cavite’s Vermosa.
The 17.5-hectare Gatewalk Central is under development in Mandaue, Cebu. Other projects in progress are Capitol Central in Bacolod, I.T. Park in Cebu, and Atria Park District in Iloilo. Lio, the first eco-tourism state in El Nido, Palawan, will open a hotel of 42 rooms this December.
The property development’s total returns amounted to P52.61 billion, which is 12 percent climb from its P46.87 billion record last year. The record is inclusive of sales from office spaces, residential properties, commercial lots, and industrial segments.
Residential and office for sale segments had a total of two percent higher returns, which valued at P84.32 billion. The average sales per month amounted to P9.36 billion. During the first nine months of 2016, Ayala Land set up a P49.2 billion amount of residential and office for sale projects.