The Zobel family-led developer plans to launch Laurean, a resort- and wellness-themed project that will rise on a more than 5,000-square-meter lot in Makati City.
“With the very warm reception of Park Villas, we look forward to another bespoke project in the Makati Central Business District. It will be cut from the same cloth as Park Villas, but with a more varied unit mix,” Anna Ma. Margarita “Meean” B. Dy, Ayala Land president and CEO, announced during the company’s annual stockholders’ meeting on Thursday.
“We envision Laurean to be an urban sanctuary in Makati, an oasis amidst the city’s hustle and bustle,” she added.
Next-generation product
“More than half a hectare will be dedicated to resort-like amenities, wellness facilities and lounge areas. It will be among the first of Ayala Land Premier’s next generation of products, to once again set new standards of quality in the country,” Dy said.
Park Villas is a 51-story luxury tower with more than 600-square-meter units on a prime 2,400-square-meter lot between the Atrium of Makati and Somerset Olympia in Salcedo Village.
It’s the first in Ayala Land’s top-tier segment above Ayala Land Premier, internally referred to as Ayala Land Premier Signature, offered exclusively to the ultra-wealthy.
Big picture
Ayala Land made a strategic decision a few years ago to expand its upscale portfolio amid the industry-wide middle market slowdown in Metro Manila.
Upscale projects, referring to brands AyalaLand Premier and Alveo, account for 70 percent of its residential portfolio, with the rest coming from core brands Avida and Amaia.
Ayala Land is eyeing a long-term profit goal
This also comes amid its stated objective to double 2023 profits to around P50 billion by 2028.
Earnings last year grew 15 percent to P28.2 billion, while revenues reached a record P180.7 billion, up 21 percent.
This was supported by strong commercial lot sales, upscale residential projects, and steady growth in shopping malls, hospitality, and office leasing.
Some warning signs
In 2024, Ayala Land grew reservation sales, an indicator of future revenues, by about 12 percent to P127 billion. The core segment declined 6 percent, while premium projects grew 25 percent.
But growth cooled after peaking in the second quarter, falling to its lowest level in at least eight quarters by year-end 2024 amid concerns over a volatile global economy amplified by the reelection of U.S. President Trump.
Whether Ayala Land can sustain this momentum remains to be seen, but high-end developments like Park Villas and Laurean are expected to bring it closer to its 2028 goal.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
