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PROPERTY
developer Ayala Land Inc. (ALI) sees its net income for
April to June to grow by over 40 percent, similar to
what it posted in the previous quarter as sales of
various real-estate products continue to be healthy.
ALI
president, Jaime Ayala, told reporters Wednesday that
sales of its housing units led by Ayala Land Premiere,
Alveo Land Corp. (Community Innovations) and Avida Land
remain strong despite the weakening economy.
“In the
first quarter, our net income was up 42 percent. For the
second quarter, we are still looking to track similar
range. I think the trajectory we showed in the first
quarter will continue,” he said.
For
instance, portions of Anvaya Cove put on the market are
reportedly sold out. Anvaya is the company’s first
leisure community development.
“We are
actually rushing the next phase because sales have been
faster than anticipated. The demand has been very strong
also for our club shares. We’ve actually stopped selling
club shares because we already sold the number that we
originally planned,” Ayala added.
Alveo
Land was able to book sales of P2.9 billion for the
first half of the year, up 58 percent from last year.
The company’s development projects cater mostly to the
middle-income market.
The ALI
executive, however, pointed out that the company will
continue to monitor the market in light of the rising
inflation.
“We are
watching the market environment quite closely and
adjusting our plans accordingly. But in the second half,
we are still looking at a fairly good trajectory in
terms of revenues because we have very good projects in
the pipeline—whether in the residential, office or the
mall sectors. But we are watching very carefully what’s
happening on the inflation side because that is going to
affect our costs,” he said. |
