Property giant Ayala Land continued its strong performance in the first half, with profits rising by 15 percent to ₱13.1 billion and higher revenues of ₱84.3 billion, driven by its strategic focus on high-end buyers.
Property development revenues surged 34 percent to ₱51.9 billion, driven by a 40 percent increase in residential sales to ₱43.7 billion.
The builder’s residential reservation sales for the first semester rose 17 percent year-on-year to ₱68.4 billion, with second-quarter sales at ₱35 billion, led by premium and vertical segments.
“Ayala Land is hitting its growth targets across all business lines and market segments. Residential sales outperformed expectations. We will continue to pursue our growth trajectory with a keen eye on capital efficiency,” said Ayala Land president and CEO Anna Ma. Margarita Bautista-Dy in a statement on Wednesday.
“We are reinventing our assets to deliver elevated and differentiated experiences to our customers, and we will continue to bring compelling and market-shaping residential offerings to Filipino homeowners,” she added.
The developer said key projects driving this growth included AyalaLand Premier’s Park Villas in Makati CBD, The Courtyards Phase 3 in Vermosa, Alveo’s Park East Place in BGC, Sereneo in Nuvali, and Avida’s Verge Tower 1 in Mandaluyong.
Malls, offices and hotels
Moreover, leasing and hospitality revenues grew 10 percent to ₱22.1 billion, while service businesses, including construction and property management, saw 51 percent growth to ₱8.4 billion.
Capital expenditures reached ₱36.5 billion, mainly on residential projects and estate develo
Capital expenditures totaled ₱36.5 billion, of which 51 percent were spent on residential projects, 27 percent on estate development, 11 percent on commercial leasing assets, and 11 percent on land acquisition commitments.
