Ayala Land 2016 net income up 19 percent to P20.9 billion

February 15, 2017

Ayala Land, Inc. (ALI) reported a net income of P20.9 billion in 2016, 19 percent higher than the previous year.

In a disclosure to the Philippine Stock Exchange, Ayala Land said consolidated revenues reached P124.6 billion, 16 percent higher year-on-year due to stable growth of its property development business, balanced with steady performance of its leasing portfolio.

Property development revenues grew 17 percent to P79.2 billion, driven by the steady traction of its residential and office for sale segments, complemented with commercial and industrial lot sales.

Commercial leasing revenues grew eight percent to P26.6 billion as its portfolio of malls, offices, and hotels and resorts continue to expand within the Philippines.

According to Bernard Vincent Dy, ALI president and chief executive officer, “2016 marked another banner year for Ayala Land. We achieved a higher level of profitability coming from the sustained growth of our estates and core businesses. Further, we executed our investment program to ensure continued growth in the coming years.”

Ayala Land launched P61.5 billion worth of residential and office for sale products in 2016 through its five residential brands such as Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita. Residential sales grew three percent to P108.00 billion.

The company also posted 12 percent growth in mall revenues to P15 billion, given the  performance of Glorietta, Greenbelt, Market!Market!, and Trinoma, as well as the contribution of its new malls such as Solenad and UP Town Center.

Office leasing revenues increased by seven percent to P5.5 billion due to the increasing contribution of newly opened offices such as UP Town Center BPO and Bonifacio Stopover at Bonifacio Global City (BGC).

Hotels and resorts revenues grew slightly higher to P6.1 billion as a result of sustained performance of its established hotels and resorts, combined with initial operations of its newly-built additional rooms.

The company plans to complete seven shopping centers this year with a total gross leasable space of 224,000 sqm. These include the recently-opened Ayala Malls, the 30th in Pasig, as well as Ayala Malls Vertis North in the Quezon City CBD, Ayala Malls Feliz in Cainta, and Ayala Malls One Bonifacio High Street in BGC, among others.

It also plans to complete a total of 185,000 sqm of gross leasable office space in locations like Vertis North, Circuit Makati, and The 30th in Pasig within the year. DMS