Ayala Land to double profit by 2028

MANILA, Philippines — Ayala Land Inc., the listed property unit of the Ayala Group, aims to double its net income by 2028 or in five years, a ranking official said yesterday.

“Our aspiration is to double the business in five years, so you can expect more activities from Ayala Land this year,” ALI chief finance finance officer, treasurer, and chief compliance officer Augusto Bengzon said.

He said there would be more activities including launches this year.

ALI is also expected to tap the market this year to fund its capital expenditure requirements.

In 2022, ALI reported a net income of P18.6 billion, up 52 percent from the previous year.

ALI president and CEO Anna Ma. Margarita Bautista-Dy sees better prospects for the year as almost all segments have recovered from pre-pandemic levels.

“Our outlook is always positive,” Dy said.

In the nine months through September,  ALI posted a  net income of P18.4 billion,  up 38 percent year-on-year as revenues grew by 15 percent to P98.9 billion. Its property development revenues went up by four percent to P57.2 billion amid  higher residential completion, stable bookings, and office unit sales.

Residential revenues increased by four percent to P47.5 billion, while office-for-sale revenues registered a 31 percent growth from last year to P2.8 billion.

On the other hand, revenues from commercial and industrial lots totaled P6.9 billion during the period, eight percent less than last year.

In September last year, ALI  launched the 789-hectare Southmont Estate in Silang Cavite, bringing its total count to 50 estates nationwide. Initial development cost of the estate is P12 billion.

Southmont is positioned as an “elevated modern suburb” with direct access to the Cavite-Laguna Expressway or CALAX through the Silang East Interchange. It will also host a 3-hectare sports club, and Chang Kai Shek College.

ALI’s subsidiaries include Alveo Land Corp.; Avida Land Corp.; Ayala Property Management Corp.; Makati Development Corp.; AyalaLand Logistics Holdings Corp.; and Ten Knots Philippines Inc.