By Iris C. Gonzales (The Philippine
Star) | Updated November 10, 2015 - 12:00am
In a disclosure to the Philippine Stock
Exchange, ALI said revenues increased 10 percent to P75.1 billion from January
to September, mainly driven by the steady performance of its residential,
malls, office and hotel businesses.
MANILA, Philippines - Ayala Land Inc.
(ALI), the property development arm of the Ayala Group, reported a net income
of P12.8 billion in the nine months to September, up 19 percent from P10.79
billion in the same period last year.
In a disclosure to the Philippine Stock
Exchange, ALI said revenues increased 10 percent to P75.1 billion from January
to September, mainly driven by the steady performance of its residential,
malls, office and hotel businesses.
In the third quarter alone, net income
rose 19 percent to P4.4 billion while revenues went up 10 percent to P24.4
billion.
ALI president and CEO Bernard Dy said
the company’s nine-month performance affirms the consistent and balanced
performance of key business lines, which the company plans to expand at a
steady pace.
Dy said the property giant would continue to
develop integrated mixed-used properties around the country.
“Our priority is still the continuous
development of our integrated mixed-use estates all over the country. Through
the company’s more established estates, such as Makati, Bonifacio Global City,
Cebu Park District, and in recent years, Nuvali. We have seen these
developments contribute positively to the local economy,” he said.
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Revenues from the real estate business,
which comprises property development, commercial leasing and services, reached
P70.2 billion.
Of that amount, revenues from property
development, which include the sale of residential lots and units, and office
spaces, as well as commercial and industrial lots, amounted to P46.9 billion,
up nine percent year on year.
Revenues from commercial leasing
amounted to P17.2 billion, 12 percent higher than the P15.4 billion recorded in
2014. Commercial leasing operations cover the operation of shopping centers,
offices, and hotels and resorts.
To date, the company has spent P60.3
billion after launching P97.9 billion worth of residential and leasing projects
during the nine-month period.
Among these projects include Cloverleaf
in Quezon City, Capitol Central in Bacolod City, and the 700-hectare Vermosa in
Cavite.
New shopping centers include Solenad 3
at Nuvali, Circuit Lane at Circuit Makati,
a second Wellworth department store and Merkado (the first supermarket
at UP Town Center in Quezon City).
Revenues from the residential and office
for sale segment climbed by 10 percent to P40 billion, due to sustained
bookings and project completion across all residential brands.
Ayala Land Premier, ALI’s high end
property subsidiary, registered a six percent growth in revenues to P15.7 billion, driven by sales from new
projects such as The Courtyards at Vermosa, Cavite and high-end residential
building projects such as the Two Roxas Triangle and Garden Tower 2 at Ayala
Center in Makati, The Suites and East Gallery Place at Bonifacio Global City in
Taguig, and Park Point Residences in Cebu.
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