Friday, September 25, 2020

Ayala Land Nets P23.2-B In 9 Months

Ayala Land Nets P23.2-B In 9 Months

Spotlight

7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.

Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

Ayala Land, Inc. (ALI) posted a 12-percent increase in net income to PHP23.2 billion for the first 9 months of 2019 as total revenues increased by 2 percent to PHP121.7 billion for the period.

Growth was driven primarily by real estate revenues which stood at PHP119.7 billion, supported by office, commercial and industrial lot sales and further boosted by the improving performance of new leasing assets.

ALI launched PHP37.8B worth of residential projects in the third quarter alone, bringing total launches for the first nine months of the year to PHP57.3 billion.

Capital expenditures reached PHP78.2 billion for the period, supporting continued residential and leasing asset build-up with the malls and offices segments, expanding their gross leasable area (GLA) further to 2.1 million and 1.2 million square meters, respectively.

“Third-quarter financial results were in line with our expectations, following a similar pattern to what we have seen in the first half of the year. We, however, launched more developments during the period, which we anticipate will help us finish strong in 2019 and provide positive momentum in 2020,” ALI president and chief executive officer Bernard Vincent Dy said in a statement.

“Commercial leasing assets, on the other hand, continue to outperform as business and consumer activity remain robust, and as more completed assets over the last couple of years stabilize and experience high occupancy rates,” he said.

ALI’s property development revenues amounted to PHP85.4 billion with contributions from a 51-percent growth in office for sale revenues to PHP11.1 billion, and a 16-percent increase in sales of commercial and industrial lots to PHP6.5 billion.

The company’s commercial leasing business expanded with total revenues up 16 percent to PHP27.6 billion, while shopping center revenues grew 10 percent to PHP15 billion.

Revenues from office leasing also jumped 26 percent to PHP7.2 billion, while the hotels and resorts segment grew its revenues by 17 percent to PHP5.4 billion. (PR)

Latest News

7 Helpful Apps For Your Online Classes

Make your online classes easier to deal with with these apps!

PLDT Assures Stable Internet Connection During Maintenance Works

PLDT assures its users that their connection would be stable during its emergency maintenance works.

Taguig Inaugurates COVID-19 ‘Mega-Complex’ Facility

Taguig City inaugurates its COVID-19 mega-complex facility which will host the new city-run Molecular Laboratory, the Lakeshore Mega-quarantine facility, and the Lakeshore National Testing Facility.

Palace Believes AFP Not Involved In Fake FB Accounts

Malacañang believes that none of the fake accounts taken down by Facebook are accounts managed by the Armed Forces of the Philippines.

CA Junks Suit Filed By Customs Exec Accused Of Corruption

The Court of Appeals dismisses for lack of merit a petition filed by Bureau of Customs official Teodoro Jumamil questioning his suspension by the Office of the Ombudsman.

PH Displays ‘Int’l Leadership’ For Call To Address Climate Change

The Institute for Climate and Sustainable Cities, an international climate and energy policy group based in the Philippines, lauds the Philippine government for its display of "international leadership" at the 75th United Nations General Assembly.

Mobile Legends: Unveils New Trailer, New Hero Updates and Improved Gaming Experience

Expect a more immersive experience with the new era of Mobile Legends: Bang Bang!

San Juan Aids Hearing-Impaired Man Return Home

A locally stranded person with disability receive assistance from San Juan City.

Group: Bulacan Airport Biggest ‘Ray Of Hope’ For Migrant Workers

Groups of migrant workers laud the plan of San Miguel Corporation to construct an international airport in Bulacan saying it as a potential source of employment and livelihood opportunities for displaced local and overseas workers displaced.