By Zinnia B. dela Peña (The Philippine
Star) | Updated February 23, 2015 - 12:00am
MANILA, Philippines - Property giant
Ayala Land Inc. (ALI) aims to triple its real estate portfolio by 2020 as part
of an investment program to boost its net income to P40 billion in the next six years.
In a briefing with analysts, ALI
unveiled its six-year business plan which will see its inventory of shopping
malls , office buildings and hotel rooms
grow threefold by 2020 from its 2013 capacity.
This translates to 3.6 million square
meters of shopping space, 1.8 million sqm of office space, as well as 6,000
hotel and resort keys.
ALI, which developed the Makati
business district, has earmarked a
record high P100.3 billion for capital spending this year to bankroll its aggressive expansion program aimed at growing
its net income by an average of 20 percent annually.
Of the total programmed budget, P37.4
billion will go to the construction of residential projects, P31.5 billion for
land acquisition, P14.7 billion for new mall developments, P5 billion for new
office buildings, P2.8 billion for hotels, and P8.9 billion for others.
Based on the current completion
schedule, ALI will grow its office space by an average of 16.4 percent annually
from 2014 to 2019. Shopping space is projected to expand 17.4 percent annually from 2014 to 2017.
Hotel and resort keys are
expected to grow at an annual average of
14.4 percent from 2014 to 2019. This
includes 497,000 sqm of shopping center space, 693,000 sqm of office space, and
2,066 hotel and resorts keys.
ALI said most of the sites for these
expansion are already in place, making these targets more feasible.
To support its robust growth
trajectory, ALI will continue to launch projects aggressively as well as
capitalize on its 8,639 hectares of
landbank across the country.
Last year, ALI reported a net income
of P14.8 billion or 26 percent higher than 2013 on the back of hefty revenues
from its residential offerings and shopping centers.
ALI has five residential brands -- Ayala Land Premier which
caters to the high end segment of the property market, Alveo (upper middle
class), Avida (middle-income), Amaia (low-cost) and Bella Vita (socialized
housing).
It
is the property firm of conglomerate Ayala Corp., which also has
interests in utilities (Manila Water Co.
Inc.), telecommunications (Globe Telecom Inc.), semiconductors (Integrated
Microelectronics Inc.), banking (Bank of the Philippine Islands), and education
(LiveIt Investments), among others.
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