AyalaLand Logistics Holdings Corp., the industrial and warehousing arm of Ayala Land Inc., saw net profit last year increase by 29 percent to P1.01 billion as economic recovery bolstered demand for industrial and warehouse space.
Revenue total P4.20 billion, with the bulk of that amount contributed by industrial lot sales and warehouse leasing.
Industrial lot sales rose 15 percent to P2.35 billion on stable domestic demand. The steady demand for industrial space emboldened AyalaLand Logistics to acquire a 55-hectare land in Padre Garcia, Batangas that will be developed as new industrial estate.
Income from warehouse leasing jumped 44 percent to P648 million, pushed higher by demand and expansion of leasable space by 38 percent to 309,000 square meters.
Leasing of cold storage space increased one-and-a-half times to P120 million while leasing of commercial space delivered a 28 percent growth to P544 million.
“Our business lines’ resilience led to significant performance improvements. We remain positive that our diversified industrial real estate portfolio will allow us to pursue our aspirations of growing our existing product lines and explore new platforms and offerings for customers,” said AyalaLand Logistics president and chief executive office Jose Emmanuel Jalandoni.
Last year, the company formed a joint venture with FLOW Digital Infrastructure to develop several data center campuses across the Philippines. The first three-building campus with an information technology capacity of 36 megawatts is scheduled to open by late 2024.
