Ayala Land 9-month profit falls18% to P17.5B

Insider Spotlight

• Ayala Land's nine-month net income declined 18 percent to P17.5 billion from P21.4 billion in 2025
• Consolidated revenues fell 10 percent to P109.2 billion, while property development revenues dropped 24 percent
• Leasing and hospitality revenues grew 8 percent to P37.8 billion, cushioning weaker property development performance
  
  
  

Ayala Land Inc. (ALI) reported an 18-percent decline in net income to P17.5 billion in the first nine months of 2026 from P21.4 billion a year earlier, as weaker property development revenues weighed on earnings despite continued growth in its leasing and hospitality businesses.

Consolidated revenues fell 10 percent to P109.2 billion from P121.8 billion in the comparable period last year, reflecting softer contributions from its property development segment.

“Despite headwinds, Ayala Land achieved steady income in the third quarter of 2026. Our continuous goal is to build a more resilient ALI with more diversified revenue streams, focusing on our recurring income base,” Ayala Land president and CEO Anna Ma. Margarita Bautista-Dy said in a press statement.

 “We remain committed in executing our strategies of further growing our leasing business, staying disciplined in the residential segment, and strengthening the balance sheet while sustaining returns,” she added. 

Anna Ma. Margarita Bautista-Dy

President and CEO, Ayala Land

Softer property development activity

Property development revenues dropped 24 percent to P57.6 billion from P75.9 billion in 2025.

Total sales reservations reached P77.7 billion, equivalent to monthly sales of P8.6 billion, supported by premium residential projects and commercial and industrial lot offerings.

Third-quarter revenues stood at P34.2 billion, while net income reached P6 billion, both holding steady quarter-on-quarter.

Ayala Land's recurring-income businesses continued to provide support amid softer property development activity.

Improved occupancy 

Leasing and hospitality revenues increased 8 percent to P37.8 billion, driven by improved occupancy and operating performance.

These businesses accounted for 55 percent of total earnings before interest, taxes, depreciation and amortization, up from 44 percent a year earlier.

Hospitality revenues up 20%

Shopping center revenues rose 10 percent to P18.2 billion, excluding the impact of one-off asset sales in 2025.

Office revenues reached P9.4 billion, while hospitality revenues climbed 20 percent to P8.9 billion driven by operational gains from renovated hotels and resorts. Industrial leasing revenues increased 12 percent to P1.3 billion.

Capital expenditures declined 19 percent to P53.1 billion, with leasing accounting for 36 percent of spending.

P5 billion in dividends

Ayala Land is prioritizing recurring-income expansion, disciplined residential development and balance sheet management.

The company reduced debt by P8.4 billion during the third quarter, bringing its net gearing ratio to 0.78 times.

Its board also approved P5 billion in dividends, bringing total shareholder distributions to P10.1 billion this year, up 19 percent. —Vanessa Hidalgo | Ed: Corrie S. Narisma