Ayala Land Inc. reported profits of P33.19 billion for 2019, up 13 percent from P29.24 billion the prior year.
Revenues climbed 2 percent to P168.79 billion, from P166.25 billion.
The company said it launched P158.9 billion worth of property development projects and P15.1 billion in malls, offices and hotel resorts last year, in line with its “thrust to build sustainable, integrated, mixed-use communities across the country.”
“We continue to serve new areas in the country and reach out to a broader market with more affordable products. This is in line with our mission to enrich the lives of more Filipinos. Furthermore, we continue to invest in all our existing estates which help spur economic activity in their respective localities,” said Bernard Vincent Dy, Ayala Land president.
Out of its topline, property development reached P117.6 billion, with a 3 percent spike in sales reservations to P145.9 billion.
“Meanwhile, newly opened malls, offices and hotels drove the expansion in commercial leasing revenues which increased 13 percent to P39.3 billion,” Ayala Land said.
Shopping center revenues grew 11 percent to P22 billion, on the back of increased contributions from Ayala Malls Feliz, Capitol Central and Circuit Makati. The company opened three new shopping centers last year with a total gross leasable area (GLA) of 213 thousand square meters (sq.m.), increasing its malls footprint to 2.12 million sq.m.
Office revenues jumped 12 percent to P9.7 billion due to an improved performance of office assets in Ayala North Exchange, Vertis North and Circuit Makati.
Ayala Land currently has a total office space GLA of 1.17 million sq.m. following the completion of Ayala North Exchange BPO Tower, Manila Bay BPO Tower and Central Bloc Corporate Center 1 in Cebu.
The company posted a 19 percent increase in revenues from hotels and resorts to P7.6 billion, attributing this to the strong patronage of Seda Ayala Center Cebu and Seda Lio. It opened 797 rooms to the public this year bringing total hotel and resort rooms to 3,705.
Meanwhile, Ayala Land said out of its project launches last year, its Avida, Amaia and Bellavita residential brands delivered 11,476 units and have, over the last five years, increased delivered units by 28 percent year on year.
Ayala Land said among its major launches last year was the P18-billion Cresendo in Tarlac, its 29th estate to date.
Cresendo is a 290-hectare “new downtown” in Tarlac, carved out of the Hacienda Luisita landbank, particularly the sugar milling part, which is three kilometers from the Subic-Clark-Tarlac expressway and MacArthur Highway.
“A 32-hectare industrial park for light to medium industries and a commercial row of shophouses are poised to jumpstart local business and employment in the area. To promote skills-building among Tarlac’s young population given the potential employment opportunities, a Don Bosco Technical and Vocational School is set to open by 2025,” Ayala Land said.
The company also launched the 120-hectare Broadfield in Biñan, Laguna, which is designed to be a new commercial and industrial district in the area.
“Seeing potential in enhancing fully built-up areas with smaller community hubs, Ayala Land also introduced The Junction Place, an 11-hectare pocket urban development located in the Novaliches-Quezon City area,” it said.
The company has formally filed for a real estate investment trust fundraising through unit AREIT Inc.
“Ayala Land’s initiative to establish the first REIT reflects its confidence in the local economy, and with it hopes to pave the way for the development of a healthy and sustainable REIT market in the country,” it said.
