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Ayala Land to launch P129-b projects in ’13

By Jenniffer B. Austria | Posted on Feb. 14, 2013 at 12:02am | 996 views
[ manilastandardtoday.com ]
Ayala Land Inc. said Wednesday it will launch 69 projects this year with total investments of P129 billion, amid a robust growth momentum in the property sector.
Ayala Land said in a filing with the stock exchange it allotted P65.5 billion in capital expenditures for the year, which it would use for the completion of ongoing developments and launch new residential and leasing projects.
“For 2013, we have earmarked another P65.5 billion primarily for the completion of ongoing developments and launch of 69 new projects with a combined value of P129 billion, which will help sustain the company’s growth trajectory over the coming years,” Ayala Land chief finance officer Jaime Ysmael said.
The developer spent P71.3 billion last year, including the P22.6-billion initial payment for the acquisition of the 74-hectare Food Terminal Inc. complex.
Ayala Land posted a record profit of P9 billion in 2012, up 27 percent from P7.1 billion recorded in 2011.
The company said the record growth was achieved on the back of sustained strength of the company’s property development business and the continued improvement in margins across key business lines.
“This is the third consecutive year that we achieved record growth and this is attributed to the exceptional performance of our key businesses since we launched our 5-10-15 strategic plan,” Ayala Land president and chief executive Antonino Aquino said.
“We took a bold step in launching that aggressive plan in 2009 despite a highly challenging and uncertain environment, but it has paid off and we are now close to achieving our goal. We are certainly well-positioned and organizationally capable of doing so, focused on our platform of building large-scale, integrated, master-planned, mixed-use developments,” he added.
Consolidated revenues in 2012 increased by 23 percent to P54.52 billion.
Property development, which includes the sale of residential units and commercial and industrial lots, posted revenues of P33.2 billion in 2012, an increase of 31 percent from P25.3 billion in 2011.
Revenues from the residential business amounted P30.9 billion in 2012, a 29-percent improvement from P24 billion reported the previous year, driven by higher bookings, steady project launches and constant progress on construction across all residential brands.
Revenues from commercial leasing, which comprises the company’s shopping center and office leasing operations, grew by 18 percent to P8.8 billion in 2012 from P7.5 billion recorded the previous year.
Hotels and resorts business also saw revenues increase by 9 percent to P2.45 billion in 2012.
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