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Jekki Pascual

ABS-CBN News

MANILA - Ayala Land Inc (ALI) is investing P100 billion this year, a majority of which will be for premium developments as its core properties or middle-income segment is not growing as much as expected.ALI President and CEO Meean Dy said 80 percent of its capital expenditure this year is devoted to its premium properties under Ayala Land Premium and Alveo Land. The remaining 20 percent will be for its core properties such as Amaia and Avida. She said the premium market is more robust, because the middle income segment is very vulnerable to price adjustments.<ul><li><a data-cke-saved-href="https://news.abs-cbn.com/business/08/02/23/ayala-land-h1-net-income-up-41-percent-at-p114-billion" href="https://news.abs-cbn.com/business/08/02/23/ayala-land-h1-net-income-up-41-percent-at-p114-billion">Ayala Land H1 net income up 41 percent at P11.4 billion</a></li></ul> “I think it’s reflective our different segments of the market have been affected by the pandemic and the increase in interest rates. The core segment is very reliant on mortgages, the premium segment is less reliant on mortgages,” she said.But Dy clarified that Ayala Land will continue to develop its core properties, with the hope that the sector would rebound in three years. She said as a property developer, they are directly affected by the ups and downs of the Philippine economy.“But over the medium term, in a country like the Philippines, we need the core to come back, which is why we continue to nurture our Avida brand, we have the land bank and the projects,” she said.Ayala Land has a P100 billion capital expenditure this year. A big chunk will go to its residential business and estate development. The company plans to double its net income in 5 years as it expands not just its residential business, but offices, malls, and hotels as well.This year, it will launch P115 billion worth of projects--P100 billion for residential and P15 billion for commercial and industrial properties. Ayala Land is also raising up to P50 billion in debt capital to partially finance general corporate requirements and refinance maturing debt.<div> </div><div> </div>

ALI President and CEO Meean Dy said 80 percent of its capital expenditure this year is devoted to its premium properties under Ayala Land Premium and Alveo Land.

ALI President and CEO Meean Dy said 80 percent of its capital expenditure this year is devoted to its premium properties under Ayala Land Premium and Alveo Land.

Ayala Land bets on premium market in 2024

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Ayala Land bets on premium market in 2024

Jekki Pascual,

ABS-CBN News

Published Feb 20, 2024 08:37 PM PHT

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ALI

Ayala Land Inc

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Meean Dy

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