FOR the second consecutive year, Ayala Land Inc. (ALI) surpassed its P100 billion capital expenditure (capex) target as it continued to invest in new mixed-use developments across the country. Capex in 2019 reached P109 billion equivalent to 64 percent of gross revenues.
ALI launched P158.9 billion worth of property development projects and P15.1 billion in malls, offices and hotels resorts in 2019 .
Its developments nationwide have contributed to sustaining existing construction jobs and creating new employment opportunities. Jobs related to construction activities totaled over 60,000 in 2019. Based on previous reports by the company, the impact of its developments generated an estimated 200,000 direct and indirect jobs.
Ayala Land’s net income grew 13 percent to P33.2 billion while total revenues reached P168.8 billion. (PR