Ayalas see steady expansion and growth opportunities
Ayala Land Inc. (ALI) continues to expand its diverse property offerings to sustain the double digit-growth in its net income.
In the nine months ending September this year, ALI posted a P15.06 billion profit, up 17 percent year on year as revenues grew 14 percent to P85.49 billion.
Revenues from real estate expanded by 15 percent to P80.50 billion, driven by the sustained growth of the residential and office for sale segments, and the strong performance of shopping centers.
?Our financial results continue to be positive and reflective of a buoyant real estate industry. New products introduced in our various estates in 2016 have started to contribute to our performance and are expected to help sustain our growth moving forward,? said Bernard Vincent O. Dy, president and CEO of ALI.
In Makati, ALI is developing One Ayala, a mixed-use complex with a first-of-its-kind intermodal transport hub at the corner of Ayala Avenue and EDSA. A Leadership in Energy and Environmental Design (LEED)- certified office building, a 300-unit condominium-for-lease tower, and a flagship 600-room Seda hotel will rise within the transport hub.
In the Visayas, development is underway for the 17.5-hectare Gatewalk Central in Mandaue City, Cebu, while new projects are likewise being constructed at Cebu I.T. Park, Capitol Central in Bacolod, and Atria Park District in Iloilo.
ALI?s first eco-tourism estate, Lio in El Nido, Palawan, is also slated to open a 42-room hotel this December.