Ayala Land income surges on brisk housing demand

By VG Cabuag @villygc

sue sustained growth.” t he company said it registered P104.9 billion in reservation sales for the entire year, 14 percent higher than the previous year’s figure as fourth-quarter sales rose by 24 percent year-on-year to P27.6 billion. sa les from local Filipinos comprised 66 percent of the total, complemented by overseas Filipinos and other nationalities, with a 22 percent and 13 percent share, respectively. sa les from overseas Filipinos and other nationalities surged by 59 percent and 39 percent, respectively. 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. Our focus on customer satisfaction, operational excellence, and innovation will continue to guide our efforts as we pur- t he rest of the capex will be for estate development at 16 percent, land acquisition at 23 percent and shopping malls at 8 percent.

Augusto Cesar d Bengzon, the company’s CFO, said the company is targeting to raise some P60 billion this year.

Bengzon said some P20 billion will come from a bond float while the rest would be sourced from banks.

Consolidated revenues in 2022 were also up, but at a narrower 19 percent to P126.55 billion from the previous year’s P106.14 billion.

For the fourth quarter alone, the company said its income was flat at P5.27 billion compared with the P5.26 billion recorded in 2021.

“All major business lines achieved meaningful recovery, a testament to our employees’ hard work and dedication,” Ayala l a nd President and CeO Bernard Vincent O. d y said.

He said talks are already ongoing with underwriters for the bonds which will go on through March, leading to pricing and float in the latter part of April.

Ayala l a nd said its capital spending this year could reach P85 billion, up by 17 percent from the previous year’s P72.4 billion. For this year, residential expenditures was at 39 percent, down from the previous year’s 50 percent of the total capital expenditures (capex).

Projects that were in demand last year were Ayala l a nd Premier’s Ciela at Aera Heights in Carmona, Cavite, Avida’s serin east tower 4 in tagaytay City and Patio Madrigal in Pasay