Property giant's profits surge to P11.74B in 2013
MANILA, Philippines - Property giant Ayala Land Inc. (ALI) is planning to launch this year 78 new projects with an estimated value of P142 billion.
ALI said it is planning to launch 30,000 units across all residential brands in 2014. Last year, ALI's five residential brands launched 28,482 units worth P108 billion.
ALI is setting aside P70 billion in capital expenditures in 2014, mostly for the completion of ongoing developments and new launches. This is higher than the P66.26 billion in capital expenditures it spent in 2013.
"The Company continued to take advantage of favorable market conditions with its successive fund raising activities, ranging from the two equity top-up placements made over the last two years and the series of bond offerings which were all successfully priced and executed,” said ALI Chief Finance Officer Jaime E. Ysmael in a statement.
"These enabled ALI to fund its aggressive capex program which allowed it to secure strategic landbank positions in key growth centers and support business expansion."
Meanwhile, Ayala Land said its profits surged 30% to P11.74 billion in 2013, as it continued to report strong sales of its various residential brands.
ALI reported its consolidated revenues hit P81.52 billion in 2013, 36% higher than the previous year. The bulk of revenues came from real estate, which jumped 40% to P76.34 billion.
"Strong growth by each of our business lines showed good execution of the growth strategy with the increased delivery of new products in new geographies... Market acceptance of the products was enhanced by their presence in our integrated mixed use communities across the country and the strong ALI brand," ALI president and CEO Tony Aquino said.
ALI said property development, which includes the sale of residential lots and units, office spaces, as well as commercial and industrial lots, posted 51% higher revenues of P51.96 billion in 2013.
Revenues from residential segment jumped 32% to P41.99 billion in 2013, on the back of solid bookings and steady project launches across brands such as Ayala Land Premier, Alveo, Avida, Amaia and BellaVita.
In 2013, sales take-up value hit a record of P91.93 billion, equivalent to an average monthly sales take-up of P7.66 billion, an all-time high and 18% higher than the P6.47 billion average last year.
ALI said revenues from the sale of commercial and industrial lots surged 256% to P8.80 billion last year, due to sale of lots in NUVALI and Arca South.
Commercial leasing revenues, which includes shopping centers, office leasing, and hotels and resorts, rose 21% to P18 billion in 2013.