Ayala Land, Inc. Reported a Net Income of PHP 24.5 Billion, Up 32%

One of the largest property developers in the Philippines, Ayala Land, Inc., delivered strong results in 2023, fueled by robust property demand and heightened consumer activity. ALI’s net income grew by 32% to P24.5 billion, and consolidated revenues increased by 18% to P148.9 billion from 2022.

Property development revenues increased by 14% to P92.3 billion because of consistent bookings and increasing completion rates of residential projects and offices for sale. Residential reservation sales increased by 9% year over year to P113.9 billion.

In Q4 2023, Ayala Land unveiled 14 projects totaling P39.6 billion. These include AyalaLand Premier's first signature line project, Park Villas in Makati's central business district, as well as subsequent phases of its existing gated communities. These new projects brought Ayala Land’s total launches to 25 projects valued at P75.9 billion in 2023.

Meanwhile, leasing and hospitality revenues increased by 25% year on year to P41.7 billion due to higher occupancy and rates. Shopping center revenues increased 31% to P21.1 billion, while office leasing increased 6% to P11.8 billion. Hotel and resort revenues rose by 42% to P8.8 billion as stronger travel and tourism demand drove up occupancy and room prices.

Ayala Land opened Ayala Malls One Ayala in Makati CBD and the first phase of Ayala Malls Vermosa in Cavite, adding 49,000 sqm of retail space; Seda Manila Bay; and the second tower of Seda Nuvali, with 420 hotel rooms.

The service business sector, which includes construction, property management, and airlines, grew by 36% to P11.5 billion. Makati Development Corporation's net construction revenues from external projects increased by 56%, reaching P6.6 billion.

“Ayala Land was well-positioned to take advantage of opportunities from an improving market in 2023, enabling us to meet our objectives for the year”, said ALI President and CEO Ms. Anna Ma. Margarita Bautista-Dy. “With our focus on quality, we look forward to bringing more high-value development products to market and embarking on the reinvention of our malls, hotels, and resorts for our customers to enjoy," she added.

In 2023, Ayala Land opened four new estates: the 55-ha Batangas Technopark in Padre Garcia, the 32-ha Centrala in Angeles City, Pampanga, the 800-ha Southmont in Silang, Cavite, and the 62-ha Arillo in Nasugbu, Batangas. These new estates will spark new communities and economic activity, strengthening Ayala Land's position in the country's high-growth corridors.

Ayala Land Inc. is one of the largest property developers in the Philippines, with over 12,000 hectares of land and a proven track record of creating large-scale, mixed-use, and sustainable estates. Ayala Land has 52 estates across the country and operates a diverse portfolio of complementary businesses, including the development of residential, office, commercial, and industrial properties for sale; commercial leasing through shopping centers, offices, hotels, resorts, factory buildings, warehouses, co-living, and co-working spaces; services such as construction, property management, retail energy supply, and airlines; and strategic property-related investments.