February 18, 2018, 12:45 pm
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Developer chalks up 21% profit hike

Ayala Land Inc. said profit last year reached P25.3 billion, up 21 percent from  P20.91 billion in 2016. 

Revenues reached P142.3 billion, up 14 percent from P124.82 billion as the company recognized “substantial bookings and completion of its property development projects and expanding leasing business.” 

“Supporting its healthy topline was the resurgence of property sales in 2017, recording higher growth of 13 percent to P122 billion, a big jump from the 3 percent growth in 2016,” the company said. 

In the fourth quarter alone, sales grew 17 percent amid accelerated launches ending 2017 with a total of P88.8 billion worth of residential and office condominium developments. 

“This was complemented by the growing leasing revenues which increased by 10 percent to P31.0 billion as the new malls, offices, and hotels and resorts grow in contribution,” the company said.

“We are pleased with our 2017 business results. All major product lines posted strong growth, with property sales coming in at the higher end of our estimates and leasing income increasing in line with our planned asset build up. Further, we continue to expand our estates and land bank around the country - putting us in a good position to continue to benefit from the strong performance of our economy,” said Bernard Vincent  Dy, Ayala Land president. 

Dy said 2017 was also a landmark year as Ayala Land  completed the most number of projects which helped expand its leasing capability. 

The company opened five malls --- Ayala Malls The 30th, Ayala Malls Vertis North, Ayala Malls Cloverleaf, Ayala Malls Marikina and Ayala Malls Feliz, with a combined gross leasable area (GLA) of 189k square meters (sq.m.), bringing the company’s shopping center GLA to 1.8 million sq.m. Revenues from the malls reached P17.7 billion, 10 percent higher than in 2016. 

“Also, Ayala Land completed six office buildings with a total GLA of 185,000 sq.m., strengthening its hold in the office market segment, bringing the company’s total office GLA to 1.02 million sq.m. in 2017. Revenues from office leasing amounted to P 6.7 billion, 12 percent higher than 2016,” Dy said.

The company’s hotels and resorts business added six new facilities in its roster, including Seda Vertis North with 438 rooms, the largest hotel under its own Filipino-branded hotel chain. Revenues from its tourism-focused business reached P6.6 billion, 12 percent higher from the same period last year.

“As part of Ayala Land’s innovative response to market needs, it introduced new leasing formats such as Clock In and The Flats. Clock In offers serviced offices with fully equipped and furnished spaces for start-up ventures while The Flats offers dormitory-type lodging for office workers. Clock In operates branches at Makati Stock Exchange and BGC Technology Center and is scheduled to open additional branches in Makati, BGC, Vertis North and the 30th in Pasig this 2018. Meanwhile, The Flats is scheduled to open its first branch in Makati in 2018 with two more branches in BGC in the next two years and in Circuit Makati by 2021,” Dy said.

In 2017, the company launched three new sustainable mixed-use estates set in Luzon, Visayas and Mindanao with a total area of 275 hectares. These are Evo City in Kawit, Cavite; Azuela Cove in Lanang, Davao; and Seagrove in Mactan, Cebu. 

Early this year, the company launched Parklinks along the C5 corridor. 

All these new projects bring its estate portfolio to 25 estates, reinforcing ALI’s capability to create progressive communities and position as the largest and leading developer of estates in the Philippines. 

Strategically located in identified key growth centers across the country, ALI’s estates act as catalysts to progress with its proximity to major toll roads and transportation systems. 

Ayala Land recently announced that it will dedicate 450 hectares as “carbon forests” for protection and regeneration in line with the company’s target to achieve carbon neutrality by 2022. 

Capital expenditure hit P91.4 billion with 48 percent of the budget allocated to residential developments, 29 percent to commercial leasing projects, and 23 percent for land acquisition and estates. 

Return on equity stood at 16.1 percent.
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