Property development giant Ayala Land, Inc. (ALI) booked a net income of P21.4 billion in the first nine months ended September 30, supported by stable property development earnings and the steady expansion of its leasing and hospitality portfolio. Consolidated revenues climbed to P121.8 billion during the period.
In the January-September period of 2024, Ayala Land posted net income of P21.16 billion on consolidated revenue of P125.21 billion.
Property development revenues reached P75.9 billion, boosted by premium residential bookings, stronger core residential sales in the third quarter, and higher office and commercial lot sales. Combined revenues from offices and commercial and industrial lots rose 3 percent year-on-year to P12.8 billion, while total sales reservations improved 3 percent to P111.7 billion. ALI launched P51.3 billion worth of projects, 91 percent of which were residential.
Leasing and hospitality revenues advanced 6 percent to P35.1 billion, led by a 4 percent rise in shopping center revenues to P17.4 billion and a 6 percent increase in office leasing to P9 billion. Hospitality revenues also grew 4 percent to P7.4 billion, buoyed by stable occupancy and the contribution of the recently acquired New World Makati Hotel.
“ALI continues to navigate market challenges with discipline and focus,” said President and CEO Anna Ma. Margarita Bautista-Dy, citing continued expansion, capital efficiency, and quality improvements as growth drivers.
Capital expenditures reached P65.5 billion, with 40 percent spent on residential projects and 26 percent on leasing and hospitality assets. Maintaining a strong balance sheet, ALI will return P15.7 billion to shareholders this year through dividends and share buybacks, underscoring its commitment to long-term shareholder value.
