Ayala Land eyes P40-B net income by 2020 | ABS-CBN
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Ayala Land eyes P40-B net income by 2020
Ayala Land eyes P40-B net income by 2020
ABS-CBN News
Published Aug 16, 2017 10:34 AM PHT
MANILA - Ayala Land plans to grow net income to P40 billion by 2020 by tripling its leasable space, as robust economic growth drives demand for property, its chief finance officer said Wednesday.
MANILA - Ayala Land plans to grow net income to P40 billion by 2020 by tripling its leasable space, as robust economic growth drives demand for property, its chief finance officer said Wednesday.
Ayala hopes its leasing business will account for 50 percent of earnings, from the current 38 percent. Residential sales account for the rest, CFO Augusto Bengzon said.
Ayala hopes its leasing business will account for 50 percent of earnings, from the current 38 percent. Residential sales account for the rest, CFO Augusto Bengzon said.
The company hopes to grow leasable space in offices to 1.5 million square meters and in malls to 3 million square meters. It hopes to grow hotel rooms to 6,000, he said.
The company hopes to grow leasable space in offices to 1.5 million square meters and in malls to 3 million square meters. It hopes to grow hotel rooms to 6,000, he said.
"By and large, we remain on tack with this tripling target," Bengzon told The Briefing on ANC's Market Edge.
"By and large, we remain on tack with this tripling target," Bengzon told The Briefing on ANC's Market Edge.
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Ayala Land's net income grew 18 percent to P11.5 billion in the first half.
Ayala Land's net income grew 18 percent to P11.5 billion in the first half.
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