AyalaLand Logistics Holdings Corp. Reported P211 Million Net Income in Q12024

Ayala Land, Inc.'s subsidiary, AyalaLand Logistics Holdings Corp. (ALLHC), reported P211 million in net income and P1.3 billion in consolidated revenues for the first quarter of 2024, indicating a strong rebound from the 2023 downturn.

The P851 million in sales of industrial lots indicates a stable demand for these types of lots. This was primarily caused by greater completion rates for industrial estates under development at Laguindingan Technopark and booked lot sales there. Due to a greater overall occupancy, warehouse leasing revenues reached P175 million, a 15% increase over the same period last year. At the conclusion of the quarter, cold storage brought in P41 million, 3% more than the previous year. Meanwhile, better mall occupancies and rental rates contributed to P237 million in revenue for commercial leasing.

​"ALLHC's performance in the first quarter was promising and sets a positive tone for the year ahead. With all core business lines showcasing notable improvements, we look forwar to sustaining this growth momentum over the course of the year," said ALLHC President and Chief Executive Officer Robert S. Lao. "Remaining focused on our expansion objectives, we are hopeful for the steady growth and progress of our businesses this year.
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ALLHC anticipates finishing up its ALogis Mabalacat warehouse facility in Pampanga Technopark and its first build-to-suit (BTS) facility in Cavite Technopark in the second quarter. When construction is finished, the two buildings will add 22,000 square meters of gross leasable warehouse space. During that time, ALLHC plans to open its cold storage facilities at ALogis Artico Santo Tomas and ALogis Artico Mabalacat. Each of the two sites will increase ALLHC's portfolio by 5,000 pallet placements.

In the same quarter, ALLHC plans to open the second phase of its ALogis Mabalacat warehousing complex. When completed, this extension is anticipated to increase the warehouse portfolio's gross leasable area by 18,000 square meters.

These initiatives support the company's goal of strengthening its leasing segments and expanding its asset portfolio.

AyalaLand Logistics Holdings Corp. (ALLHC), is the leading developer and operator of industrial parks and real estate logistics facilities in the Philippines.