Ayala Land, Inc. (ALI) on Wednesday reported a 15-percent increase in net income to P21.2 billion in the first nine months of 2024 from the same period last year.
Consolidated revenues surged 27 percent to P125.2 billion, led by robust property demand and consumer activity.
The company’s property development revenues rose 34 percent to P76.6 billion, on the back of higher residential and commercial lot bookings.
Residential revenues improved 35 percent to P64.2 billion, while revenues from commercial and industrial lots surged 51 percent to P10.4 billion.
Office-for-sale revenues for the period stood at P2 billion mainly from project bookings.
Nine-month residential sales reservations increased 17 percent to P100.5 billion, driven by the premium market.
“We are pleased with the solid results delivered across our business lines,” said ALI president and chief executive Anna Ma. Margarita Bautista-Dy.
“With signs of market headwinds clearing, coupled with our reinvention initiatives, we look forward to continue delivering high-quality products to our stakeholders,” she said.
The company’s strong sales performance translated into a monthly average of P11.2 billion — better than the P9.5 billion average during the previous year.
Total launches for the period reached P45.6 billion, with a 51-49 split between vertical and horizontal projects.
Notable launches in the third quarter were AyalaLand Premier’s (ALP) Orchard Vistas at Anvaya Cove in Bataan and Ayala Greenfield Estates Brookside Park in Calamba, Laguna; Avida’s mid-rise condominium offering, Sentria Storeys Vermosa in Cavite; and the second tower of Amaia Skies Sta. Mesa in the city of Manila.
Meanwhile, leasing and hospitality revenues totaled P33.2 billion, or 8 percent higher than in 2023 owing to the contribution of new assets namely, One Ayala Mall and East and West Office towers, Ayala Triangle Gardens Tower Two, and Seda Manila Bay. Shopping center revenues advanced 7 percent to P16.7 billion, while office leasing grew by 7 percent to P9.4 billion.
Hotel and resort revenues reached P7.1 billion, up 13 percent year on-year.
The company’s capital expenditures reached P51.9 billion, of which 49 percent was spent on the build out of residential projects, 27 percent on estate development, 13 percent on leasing and hospitality assets and 11 percent on land acquisition commitments.
