Property developer Ayala Land Inc. (ALI) reduced its planned project launches this year to P85 billion from P115 billion set at the start of the year to manage its inventory levels.
ALI president and chief executive Anna Ma. Margarita Dy said in a press briefing the company aimed to further lower its inventory levels, which is now equivalent to 19 months of revenues.
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She said while the inventory level was down from a high of 22 months, the company aimed to bring this down to pre-pandemic level of 16 months by yearend.
Dy said 60 percent of ALI’s inventories are in Metro Manila, and 40 percent in the provinces.
ALI launched P33.7 billion worth of residential projects, mostly high-end developments, in the first half of 2024.
