Total revenues surged 33 percent to P41 billion, led by property development revenues of P25 billion—a sharp increase of 47 percent, thanks to robust residential and commercial lot bookings.
Ayala Land launched four new projects valued at P13.7 billion, boosting residential reservation sales by 20 percent year-on-year to P33.3 billion.
The leasing and hospitality segment also grew revenues by 8 percent to P10.9 billion. This was fuelled by higher occupancy and rental rates across malls, offices, and hotels.
The service businesses, including construction and property management, saw a 42 percent increase in revenues to P4.2 billion during the period.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
