Ayala Land revenues up 15%

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Ayala Land Inc. said profit in the first nine months of the year increased 38 percent to P18.4 billion from P13.33 billion.

Revenues rose 15 percent to P98.9 billion from P86 billion.

The company said it grew its property development revenues by 4 percent to P57.2 billion from higher residential completion, stable bookings and office unit sales.

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“Residential revenues increased by 4 percent to P47.5 billion, while office-for-sale revenues registered a 31 percent growth from last year to P2.8 billion. Meanwhile, revenues from commercial and industrial lots totaled P6.9 billion, 8 percent less than last year,” Ayala Land said.

Residential sales reservations grew 11 percent to P85.9 billion.

Ayala Land launched five new projects in the third quarter worth P4.4 billion – AyalaLand Premier’s Ayala Greenfield Estates Parkside Terraces Tranche 2, Andacillo Tranche 5, and Lanewood Hills Phase 3 Batch 3, Avida’s first mid-rise condominium offering in Nuvali, Solara Park Storeys, and Amaia’s Scapes Cabuyao Sector 4.

 

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