Ayala Land eyes to 'double' its business by 2028

Property developer Ayala Land Inc. has set a five-year plan to double its bottom line in the next five years.

In a chance interview on Wednesday, Ayala Land chief finance officer Augusto Bengzon said the company is aspiring "to double the business in five years" in terms of net income.

The plan, he said, covers the years 2024 to 2028.

As of the first nine months of 2023, Ayala Land booked a net income of P18.4 billion, up 38% year-on-year on the back of 15% growth in consolidated revenues of P98.9 billion.

"Suffice it to say our capex (capital expenditure) will be quite aggressive so we will need to tap the market," he said.

"We see a lot of opportunities, I think we can expect a lot of activity from Ayala Land," he added.

For her part, Ayala Land president and CEO Anna Ma. Margarita Dy said that while official numbers are yet to be disclosed for the company's full-year 2023 financial performance, "I think we ended on a positive note, on a high note."

"The country as a whole was better off in 2023. I think, our performance also reflects that," Dy said.

For 2024, she said the company has yet to finalize its profit guidance, but expressed optimism that Ayala Land's performance will be "always positive." — VDV, GMA Integrated News