MANILA - Ayala Land Inc said on Tuesday its net income grew 52 percent to P18.6 billion in 2022 as it bounced back from the impact of the COVID-19 pandemic.
Consolidated revenues reached P126.2 billion, higher by 19 percent, the Ayala-led real estate company told the stock exchange.
Reservation sales grew 14 percent to P27.6 billion, ALI said. Sales from overseas Filipinos and other nationalities surged by 59 and 39 percent, respectively, it added.
ALI said it launched 10 residential developments in the fourth quarter.
Commercial leasing revenues, meanwhile, accelerated by 62 percent to P33.4 billion due to normalized mall rents and increased foot traffic, new office spaces and higher hotel room rates.
"All major business lines achieved meaningful recovery, a testament to our employees' hard work and dedication," said ALI President CEO Bernard Vincent Dy.
"Despite ongoing challenges in the operating environment, we remain positive in our outlook for 2023 and look forward to introducing new offerings that will meet the evolving needs of the market," he added.
For 2022, ALI said its capital expenditures reached P72.4 billion, wherein 50 percent was spent on residential projects, 19 percent on land acquisitions, 16 percent on estate development, 11 percent on commercial projects and 4 percent for other purposes.
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