Thursday, July 17, 2008 [ manilatimes.net ]
By Katrina Mennen A. Valdez, Reporter
AYALA Land Inc. (ALI) is setting aside 1 percent of its net income for corporate social responsibility top (CSR) activities, the company’s executive said Wednesday.
During the CSR Conference 2008, Jaime Ayala, ALI president, said the property developer is spending the said amount on projects that would reduce energy consumption and mitigate pollution by developing attractive walkways for pedestrians.
“Apart from having to practice CSR, [we] know that this move could also help [us] maintain and attract more buyers,” Ayala said.
At present, ALI has close to P400 million exclusively for the development of walkways, school buildings, and technologies that maximize natural light and ventilation, thus reducing the energy use, he said.
He said the company is setting aside the amount despite inflation and economic certainties, adding the property firm allots such an amount in its annual budget.
“This is also good for the business, since the clients would see that [we] do not just develop quality residential units and commercial establishments. In a way [we] are trying to improve the quality of life and air of the community,” he added.
Earlier, ALI said it is still bullish about completing its ongoing projects within this year, amid the soaring prices of construction materials.
“[We] do not see any project delays to take place this year, despite the fact that the prices of basic construction materials have gone up significantly,” Ayala said.
Last month, prices of local steel had gone up by an average of 50 percent following the surge in world price of iron ore owing to strong demand from China and India.
Ayala said the price of steel already doubled, while cement increased by 25 percent.
“So far, [we] do not have a problem on cement since [we] have a locked-in contract with [our] suppliers. On the other hand, it is difficult for us to win a locked-in contract with steel makers,” he said.
Ayala said that in a span of one and a half years, the selling price of their condominium units, among others have already surged by 20 percent due to the soaring prices of basic construction materials.
“Though [we] expect another increase within this year, increasing [our] price would be the last option,” he said.
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