Ayala Land sees bullish growth in 2012

By Zinnia B. Dela Peña, The Philippine Star

Posted at 01/23/2012 8:21 AM | Updated as of 01/23/2012 9:17 AM

MANILA, Philippines - Property giant Ayala Land Inc. expects to sustain its growth momentum this year following a strong performance in 2011, according to a top company official.

ALI president Antonino Aquino said the company remains bullish on the property sector given low interest rates, robust remittances from overseas workers, and continued strong demand for real estate.

Aquino said while the group has yet to finalize its 2011 financial figures, the results were “very good,” noting that the company maintained its upward momentum in the first nine months.

As of end-September last year, ALI posted a net income of P5.23 billion, 33 percent higher than the previous level on strong performance across all its product lines and successful cost-containment initiatives.

Consolidated revenues went up by 17 percent to P32.63 billion.

Revenues from the residential segment grew 27 percent to P17.58 billion, driven by the higher bookings and significant progress on construction across all residential brands Ayala Land Premier, Alveo Land, Avida Land, and Amaia Land which launched a total of 10,045 units.

 Sales take-up value during the period under review reached P38.96 billion, equivalent to an average monthly sales take-up of P4.33 billion or an increase of 57 percent from the average achieved for the whole of 2010.