ALI earnings rise 18% in 9 months

MANILA, Philippines — Ayala Land Inc. grew its nine-month income by 18 percent to P17.8 billion on strong growth of its different businesses.

The company registered P98.9 billion in revenues during the period, up 16 percent.

With its steady income growth, ALI is optimistic it will meet its income target of P40 billion by 2020.

ALI president and CEO Bernard Vincent Dy noted a marked increase in the company’s  residential property sales in the first three quarters.

“Together with the continued build-up of our leasing assets, this has led to a strong top and bottom line growth for the company.  Moving forward, we remain committed to introducing market-responsive products that will better serve our customers and sustain the business results of the company,” Dy said.

Property sales rose 12 percent to P94.2 billion.

Combined revenues from shopping centers, offices, hotels and resorts grew 10 percent to P21.1 billion.

Total revenues from property development, which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots reached P68.4 billion, 30 percent higher than the P52.6 billion generated a year ago.

At present, ALI has 23 sustainable estates nationwide, 14 of which are outside Metro Manila.

 The company has so far launched Evo City in Cavite and Azuela Cove in Davao, and is poised to introduce Seagrove in Lapu-Lapu City, Cebu, this month to complete this year’s offerings.

From January to September, ALI launched P53.9 billion worth of residential and office for sale projects.

Shopping centers  posted revenues of P11.8 billion with its total GLA increasing to 1.7 million sqm.

 So far, ALI spent P63.2 billion for project and capital expenditures, of which 49 percent went to the completion of residential projects and 28 percent spent on commercial leasing projects.

ALI said 17 percent was spent on land acquisition, new businesses, services and other investments while six percent went to the development of its estates.