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By Katrina Mennen A. Valdez, Reporter
AYALA Land Inc. (ALI) is setting aside 1 percent
of its net income for corporate social responsibility top (CSR)
activities, the company’s executive said Wednesday.
During the CSR Conference 2008, Jaime Ayala, ALI
president, said the property developer is spending the said amount
on projects that would reduce energy consumption and mitigate
pollution by developing attractive walkways for pedestrians.
“Apart from having to practice CSR, [we] know
that this move could also help [us] maintain and attract more
buyers,” Ayala said.
At present, ALI has close to P400 million
exclusively for the development of walkways, school buildings, and
technologies that maximize natural light and ventilation, thus
reducing the energy use, he said.
He said the company is setting aside the amount
despite inflation and economic certainties, adding the property firm
allots such an amount in its annual budget.
“This is also good for the business, since the
clients would see that [we] do not just develop quality residential
units and commercial establishments. In a way [we] are trying to
improve the quality of life and air of the community,” he added.
Earlier, ALI said it is still bullish about
completing its ongoing projects within this year, amid the soaring
prices of construction materials.
“[We] do not see any project delays to
take place this year, despite the fact that the prices of basic
construction materials have gone up significantly,” Ayala said.
Last month, prices of local steel had gone up by
an average of 50 percent following the surge in world price of iron
ore owing to strong demand from China and India.
Ayala said the price of steel already
doubled, while cement increased by 25 percent.
“So far, [we] do not have a problem on
cement since [we] have a locked-in contract with [our] suppliers. On
the other hand, it is difficult for us to win a locked-in contract
with steel makers,” he said.
Ayala said that in a span of one and a half
years, the selling price of their condominium units, among others
have already surged by 20 percent due to the soaring prices of basic
construction materials.
“Though [we] expect another increase
within this year, increasing [our] price would be the last
option,” he said.
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