Amid strong performance of its property development, commercial leasing and construction businesses, property giant Ayala Land Inc. (ALI) grew its 2013 first semester income by 30 percent to P5.6 billion from the P4.3 billion it earned in the same period last year.
Moreover, consolidated revenues of the company for period reached P36.6 billion, 36 percent higher than the P27 billion posted in the same period last year.
“Our products are well accepted due to their presence in our integrated, mixed-use developments. These developments are further enhanced by our new products and joint ventures that will enable us to have hotels, department stores, supermarkets, convenience stores and medical facilities to complete our master-planned communities,” said Antonino Aquino, ALI president and chief executive officer.
ALI’s property development, which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots, posted revenues of P23.8 billion in the first six months of 2013, up 52 percent from P15.7 billion reported a year ago.
Ayala Land Premier (ALP), the high-end unit of ALI, posted a revenue growth of 25 percent year-on-year to P6.68 billion, driven by significant bookings from high-value condominium units in Bonifacio Global City and Makati City.
Alveo, meanwhile, generated P4.4 billion in revenues, 20 percent higher compared with the first half of 2012, with higher contribution from its several projects, while Avida and Amaia recorded revenue growth of 45 percent and 58 percent to P5.2 billion and P975 million, respectively.
Generally, sales take-up value of ALI for the first six months of the year reached a record high of P43.79 billion, equivalent to an average monthly sales take-up of P7.3 billion.
The company’s four residential brands launched a total of 10,130 units in the first six months of 2013, with total sales value of P30.6 billion.
Revenues from the sale of commercial and industrial lots also increased by 307 percent to P5.2 billion, mainly attributed to the sale of commercial lots in the Arca South property (Food Terminal Inc).