AyalaLand Logistics Holdings Corp. (ALLHC), the industrial property and logistics unit of Ayala Land Inc., reported a 9 percent decline in nine-month net income to P73 million, as weaker industrial lot sales and softer commercial leasing offset stronger warehouse and cold storage revenues.
The listed company generated P2.5 billion in revenues during the January-to-September period. Its third-quarter net income, however, reached P62 million, supported by the recognition of industrial lot sales and steady leasing contributions.
Industrial lot sales contributed P903 million in revenues, down 19 percent from a year earlier. Reservations, however, increased 23 percent to P1.3 billion, suggesting that prospective buyers remained interested in its industrial developments despite challenging market conditions.
ALLHC’s leasing businesses provided a more dependable source of growth, generating P1.6 billion in revenues, up 9 percent year-on-year.
Cold storage led the expansion, with revenues surging 76 percent to P355 million on higher occupancy and a full year of contributions from the Artico Iloilo and Artico Urdaneta facilities acquired in March 2025.
Warehouse leasing revenues rose 5 percent to P585 million, reflecting stable operating activity across its sites.
Commercial leasing proved the weak spot, with revenues declining 7 percent to P646 million amid softer market demand, tempering gains from the company’s other recurring income streams.
ALLHC President and CEO Robert S. Lao said the sequential improvement in third-quarter earnings reflected progress in securing key tenants across its leasing portfolio and sustained demand for industrial lots.
“Moving forward, we remain focused on stabilizing and strengthening our overall portfolio,” Lao said.
The results underscore the growing contribution of recurring leasing income to ALLHC’s business, even as industrial land sales and commercial property demand remain exposed to prevailing market conditions.
