Ayala Land nets P24.5B in 2023, up 32%

Property giant Ayala Land, Inc. saw double-digit growth in its bottom line last year on the back of strong demand for property and consumer activity.

At a briefing in Makati City on Tuesday, Ayala Land president and CEO Anna Ma. Margarita Bautista-Dy reported that the company booked P24.5 billion in net income in 2023, up 32% year-on-year.

Ayala Land saw its revenues reach P148.9 billion, up 18% from a year earlier.

“Ayala Land was well-positioned to take advantage of opportunities from an improving market in 2023, enabling us to meet our objectives for the year,”  Bautista-Dy said.

“With our focus on quality, we look forward to bringing more high-value development products to market and embarking on the reinvention of our malls, hotels, and resorts for our customers to enjoy," she added.

Broken down, Ayala Land’s property development revenues rose by 14% to P92.3 billion, driven by steady bookings and higher completion of residential projects and offices for sale. 

Meanwhile, residential reservation sales grew by 9% to P113.9 billion year-on-year.

In the last quarter of 2023, Ayala Land launched 14 projects 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. 

The new projects launched in the fourth quarter brought Ayala Land’s total launches to 25 projects valued at P75.9 billion in 2023.

Ayala Land launched four new estates in 2023: the 55-hectare Batangas Technopark in Padre Garcia town, the 32-hectare Centrala in Angeles City, Pampanga, the 800-hectare Southmont in Silang, Cavite, and the 62-hectare Arillo in Nasugbu, Batangas. — VBL, GMA Integrated News