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ALI sets 4Q launch of bulk of projects

    Published : Thursday, August 25, 2011 00:00
    Written by : Krista Angela M. Montealegre

AYALA Land Inc. (ALI) intends to roll out bulk of its projected unit launches in the fourth quarter, as the company’s residential developments continue to enjoy brisk sales.

Data provided by ALI showed that it would roll out 5,000 units in the third quarter, bringing its total unit launches to 11,625 by end-September.

This is nearly half of the over 20,000 units that the real estate firm plans to launch for the year.

“We remain upbeat on our plans and we will continue to launch our projects aggressively in the second half,” said Jaime Ysmael, ALI chief financial officer, in a previous interview.

For August and September, ALI will launch 3,000 units from Abreeza Residences in Davao, Avida Bonifacio Global City, Nuvali Parkway, AmaiaScapes in Batangas and Cavite.

In July, the property firm introduced 1,900 units in the market from Park Terraces 3 and Lerato in Makati, Elaro in Nuvali, Centera 2 in Mandaluyong, and Avida Residences Cabanatuan.

Ysmael said Elaro was fully sold in a weekend after the company received more than 400 letters of intent for the 451 lots in its fourth residential project in Nuvali, Laguna.

“Recent indications from new product launches effectively indicate that the demand remains strong. The market is still big enough for developers. We are confident that the growth momentum will be sustained through yearend,” Ysmael said.

In the second quarter, quarterly take-up stood at P13.70 billion, up 41 percent from the P7.93 billion last year.

ALI spent P12.5 billion of its projected P33-billion capital expenditure budget this year, but the company said its capex will accelerate in the second half in line with the project launch schedule.

The strong performance of its property development and commercial leasing businesses lifted ALI’s net income to P3.38 billion in the first six months, 35 percent higher than the P2.51 billion recorded in the same period last year.

Its shares rose to P16.04 each on Wednesday from P16 on Tuesday.

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