AYALA Land Inc. (ALI) delivered strong results in 2023, fueled by robust property demand and heightened consumer activity. ALI’s net income grew 32 percent to P24.5 billion, and consolidated revenues increased by 18 percent to P148.9 billion from 2022.
Property development revenues expanded by 14 percent to P92.3 billion, driven by steady bookings and higher completion of residential projects and offices for sale.
Residential reservation sales grew by nine percent year-on-year to P113.9 billion.
Ayala Land launched 14 projects in the fourth quarter of 2023 with a combined value of P39.6 billion.
These include AyalaLand Premier’s first signature line project, Park Villas in the Makati CBD, and sequel phases of its existing gated community developments.
These new projects brought Ayala Land’s total launches to 25 projects valued at P75.9 billion in 2023.
Meanwhile, leasing and hospitality revenues accelerated by 25 percent year-on-year to P41.7 billion due to improved occupancy and rents. Shopping center revenues surged 31 percent to P21.1 billion, while office leasing grew six percent to P11.8 billion.
Hotel and resort revenues increased by 42 percent to P8.8 billion as higher travel and tourism demand pushed up occupancy and room rates.