Property developer Ayala Land Inc. (ALI) prepares to launch P100 billion worth of residential, commercial and industrial developments in 2025 even as the company remains cautiously optimistic about the property sector.
It also earmarked P95 billion for 2025 capital expenditures. It plans to borrow up to P75 billion to partially finance its corporate requirements and refinance maturing debt.
ALI said in a disclosure to the stock exchange Thursday the planned borrowing includes the issuance of fixed-rate bonds and/or corporate notes for listing on the Philippine Dealing and Exchange Corp. It could also involve signing of bilateral term loans.
ALI’s net income grew 15 percent year-on-year to P28.2 billion in 2024, boosted by solid growth across business units.
Full-year consolidated revenues climbed 21 percent to a record P180.7 billion, with sales from property development group rising 22 percent to P112.9 billion.
Residential revenues rose 23 percent to P94.9 billion on higher bookings across all brands, while sales from commercial and industrial lots went up 34 percent to P14.6 billion, lifted by demand for lots outside Metro Manila.
Office-for-sale contributed P3.5 billion mainly from project bookings.
Reservation sales from residential unit reached P127.1 billion, up 12 percent year-on-year on the back of sustained strong demand for high-end projects and house and lot developments in suburban estates.
ALI launched P80.5 billion worth of residential projects in 2024, of which 70 percent were in the premium segment and 30 percent in core middle income segment.
Leasing and hospitality revenues reached P45.6 billion, or 9 percent higher than in 2023 due to healthy operations of existing assets combined with the contribution of new assets namely.
Mall revenues rose 9 percent to P23 billion while sales from office leasing inched up by 2 percent to P12.9 billion. Hotel and resort revenues went up 11 percent to P9.7 billion.
ALI opened 72,000 square meters of new commercial leasing space in 2024 to bolster its retail portfolio.
“We ended the year on solid footing, with all our business lines executing on their growth strategies,” said ALI president and chief executive Anna Ma. Margarita Bautista-Dy.
“We look forward to the year and are excited to bring innovative residential and leasing offerings to our customers, expand our market reach and capture new business opportunities,” she said.