Ayala Land eyes expansions in mixed-use projects
MANILA, Philippines – Property giant Ayala Land Inc. will continue its strategy of establishing integrated business and commercial developments in the next decade, its newly-elected president Bobby Dy said.
“What you’re going to see over the next 5 to 10 years is that we are going to continue our expansions into these large scale integrated mixed-use developments,” he told ANC on Wednesday.
Ayala Land recently opened its latest mixed-use project, the 5.8 hectare Fairview Terraces, in Quezon City.
Fairview Terraces, which is located along Quirino Highway in Novaliches, has 68, 700 square meters of shopping space and 10,000 square meters of lease area in its soon-to-rise corporate center.
Ayala Land is also investing P6.8 billion to develop a mixed-use community in a 100-hectare property in San Jose del Monte, Bulacan.
Dy said Ayala will also continue to identify “new growth centers” and broaden its portfolio to service more income segments.
“As we expand, we hope to be able to serve more and more Filipinos,” he said.
For the first three months of the 2014, Ayala Land registered a 25 percent jump in its net income due to the strong performance of all its business units.
Dy noted that the sustainability of ALI's revenue and income growth is highly dependent on how the country’s economy performs throughout the year.
“As long as the Philippine economy continues to grow at this particular range, which is about 6 to 7 percent, we believe that our businesses are well-positioned to be able to capitalize on the Philippines’ economic growth,” he said.
Dy stressed that a boost in the country’s tourism industry will be key to the growth in their hotels and resorts business, which grew by 47 percent to P1.37 billion in the first three months of 2014 from P931 million in the same period last year.
He lauded the government’s efforts in improving infrastructure, including airports, to boost tourism.
“We feel confident that the government is motivated and very deliberate in making sure that these infrastructure projects get going in the next six to 12 months,” he said.
Ayala Land opened a 150-room Seda Hotel in Laguna in March, adding to its current hotels at the Bonifacio Global City, Cagayan de Oro, and Davao.
It has also begun construction of another Seda Hotel in Lio, a 325-hectare mixed-use development at El Nido, Palawan.
Ayala Land currently has four island resorts in Palawan.