Ayala Land readies bulk of project launches by H2

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Ayala Land Inc. expects to unveil most of its planned project launches in 2024 by the latter half of the year.

Anna Margarita Dy, Ayala Land chief executive officer, said of the P115 billion worth of projects to be launched this year, P14 billion were launched in the first quarter.

“So typically back ended last year, for example, close to 50 percent was launched in the fourth quarter, I don’t think this year, it will be that extreme. But the majority will still happen on the second half of the year,” Dy said.

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Of the scheduled launches for the year, 80 percent will be premium residential and commercial lots, while the rest will be on the company’s core residential brand in the middle-income segment, divided equally between horizontal and vertical projects.

Ayala Land closed the first quarter with a profit of P6.3 billion, up 39 percent. Revenues grew 33 percent to P41.0 billion.

Property development revenues grew 47 percent to P25 billion. Residential revenues grew 51 percent to P21.4 billion. Commercial and industrial lot sales meanwhile grew 59 percent to P2.8 billion while office-for-sale revenues hit P826 million, down 26 percent.

Residential reservation sales hit P33.3 billion, up 20 percent. The company’s leasing and hospitality business posted an 8 percent increase in topline to P10.9 billion. Shopping center revenues grew 9 percent to P5.5 billion, while office leasing improved by 5 percent to P3.1 billion. The hotel and resort revenues grew 8 percent to P2.3 billion.

 

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