Ayala Land says it is on track to hit P40B net income by 2020

Property developer Ayala Land Inc. is optimistic about hitting its goal of P40 billion in net income by 2020.

“We are on track to reach P40 billion in net income by 2020,” Ayala Land president and CEO Bernard Vincent Dy said in a press briefing in Makati City on Friday.

Last year, the property developer registered a 16-percent net income growth to P29.2 billion and 17-percent increase in consolidated revenue to P166.2 billion.

“This was driven by strong local and overseas Filipino demand. Leasing revenue also increased 17 percent to P34.9 billion on the back of robust local consumption and solid BPO (business process outsourcing) demand,” Dy said.

The company needs to grow its yearly bottom line by 17 percent starting this year to meet its P40-billion goal by 2020.

“To sustain this growth, we are hoping that the macroeconomic environment will be supportive of the industry,” Dy said.

Ayala Land has 26 sustainable estates and is present in 55 growth areas nationwide, with its residential brands Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita.

Its commercial development and leasing portfolio comprises Ayala Malls, Ayala Land Offices, and Ayala Land Hotels and Resorts Corp. —VDS, GMA News