posted November 15, 2015 at
11:25 pm by Jenniffer B. Austria [ the
standard.com.ph]
Ayala Land Inc., the
second-biggest property developer, said it plans to spend between P85 billion
and P90 billion next year, heavily investing across all business lines.
Ayala Land chief finance
officer Jaime Ysmael said the company’s spending plan would be consistent with
its positive outlook on the domestic retail market.
Ayala Land invested P60
billion in capital expenditures in the first nine months of the year, but said
full-year capital spending would likely be below the original target of P100
billion.
Ayala Land president and
chief executive Bernard Vincent Dy also expects the domestic real estate market
to remain robust based on current economic indicators.
“If you look at various
indicators it reman supportive of our various business lines,” Dy said.
“The GDP [gross domestic
product] continuous to be quite healthy and [migrant workers’] remittances,
although there has been a slo down, continue to grow. Business process
outsourcing is still growing, tourism continues to be strong interest rates
remain at historic lows. Overall, those indicators bode well for our different
business lines,” he added.
Ayala Land’s net income in
the first nine months of the year increased 19 percent to P12.8 billion from
P10.79 billion year-on-year, as the company accelerated growth through
acquisitions and new project launches.
Consolidated revenues in
the nine-month period reached P75.1 billion, up 10 percent from P68.3 billion
posted in the same period a year ago.
Ayala Land in the first the
first three quarters of the year launched three estates, namely Cloverleaf in
Quezon City, Capitol Central in Bacolod City, and the 700-hectare Vermosa in
Cavite province.
Property developer Ayala
Land Inc. said Wednesday it will invest P70 billion to develop Vermosa, a
700-hectare master planned integrated community in the cities of Imus and
Dasmariñas in Cavite province.
The huge Cavite property,
which the company acquired from an unlisted property firm three years ago,
would be its fourth biggest estate development after Nuvali in Alabang, Alviera
in Pampanga and Makati central business district.
Vermosa is a mixed-use
project that will be developed over the next 12 to 15 years that will include a
124-hectare central business district housing various office and commercial
developments, hotels and entertainment complex.
It will also offer
institutional developments, such as schools and residential projects to be
built by Ayala’s three residential units including Avida, Alveo and Ayala Land
Premier.
Ayala Land in August won
the government’s contract to build and operate the Integrated Transport System
South Terminal project adjacent to its fast-rising residential and business
district, Arca South.
The 35-year concession agreement
for the infrastructure project includes the operation of commercial leasing
facilities within the 5.57-hectare property.
It recently agreed to
subscribe to 2.5 million common shares, equivalent to a 51.6-percent interest,
in Prime Orion Philippines Inc., upon completing due diligence. POPI operates
the highly commercial Tutuban complex in Manila.
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