Ayala Land expects sustained profit growth as holidays near

LISTED property developer Ayala Land, Inc. (ALI) is bullish about its performance for the rest of the year, which a company official described as booming as the holiday season nears.

“We’re ending the year really good. It’s booming. Our estates are welcoming new stores,” said Marianne C. Roa, group head for marketing and communications for corporate, estates and malls, on the sidelines of a launch event in Makati City on Sunday.

“We’re also looking forward to more people coming into our communities,” she added.

Ms. Roa said ALI is projecting higher net income and growth this year on the back of increased consumer spending during the holiday season.

“It is not just the estates, but even the malls. The Philippines has the longest celebration and as early as September, we’re welcoming everyone to our communities, to our estates and to our malls,” Ms. Roa said.

“We are looking forward to that (better net income) because people are out. The trajectory towards recovery is really good. In fact, in some [of our] estates, the foot traffic is already [at] pre-pandemic [level],” she added.

Aside from the retail segment, ALI is also expecting more people to purchase properties amid stronger spending confidence.

“When people get their bonuses, that is the time you think [about] where I can invest my money or where I can put it so it will grow. In a way, it is also affected or there is an impact to it (property buying),” Ms. Roa said.

For the first half, ALI logged a 41% increase in its attributable net income to P11.39 billion on the back of higher revenues.

Meanwhile, ALI launched on Sunday its car-free initiative along Ayala Ave. in Makati City as part of its commitment to promote a healthier lifestyle and environmental sustainability.   

Under the initiative, Ayala Ave. will be closed to vehicular traffic every Sunday morning from 6 a.m. to 10 a.m. throughout September. The area will be available for walking, running, and cycling activities.

The company said car-free Sundays is in collaboration with Make It Makati, an initiative that presents the city’s latest offerings and events, as well as supported by the local government of Makati City.

“Both the city of Makati and Ayala Land are steadfast in our commitment to sustainability. We are excited to bring you car-free Sundays for an entire month — a time where the streets are yours to enjoy, free from the usual traffic. It’s an opportunity to run, bike, skate, walk your pets, or partake in any fitness activity you love,” ALI Senior Vice-President and Group Head of Estates Robert S. Lao said

“This initiative is more than just an event — it’s a step towards creating a more livable, breathable city, promoting fitness and wellness, and fostering a sense of community among us all,” he added. — Revin Mikhael D. Ochave