AYALA Land, Inc. (ALI) continued to make progress on its 2020 growth plan, posting a net income of P20.9 billion in 2016, 19 percent higher than the previous year. Consolidated revenues reached P124.6 billion, 16 percent higher year-on-year on the back of the stable growth of its property development business, balanced with the steady performance of its leasing portfolio. Property development revenues grew 17 percent to P79.2 billion, driven by the steady traction of its residential and office for sale segments, complemented with commercial and industrial lot sales. Commercial leasing revenues grew eight percent to P26.6 billion as its portfolio of malls, offices, and hotels and resorts continue to expand within the Philippines. ALI launched P61.5 billion worth of residential and office for sale products in 2016 through its residential brands Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita. Residential sales grew three percent to P108.00 billion. PR