PROPERTY giant Ayala Land Inc. (ALI) is banking on continued brisk demand in the premium market, which saw residential reservation sales rise in the first quarter of the year, to sustain overall growth.
PROPERTY giant Ayala Land Inc. is banking on continued brisk demand in the premium market, which saw residential reservation sales rise in the first quarter of the year, to sustain overall growth.'The premium residential segment has remained the most robust since the pandemic,' ALI President and CEO Anna Ma.
Margarita Bautista-Dy said last Friday.'We've been focused on catering and ensuring that we have the right products for this segment,' she said, adding that ALI has a portfolio of brands that caters to the 'widest range of markets.'The Zobel family-led developer last year unveiled 25 projects worth a total of P75.9 billion and Bautista-Dy noted that around 80 percent of these were in the premium segment.'This year, we're really just focused on selling to that segment and focused on moving our products,' she continued.'We have a very good set of projects that the market really appreciates.'In the first quarter of 2024, ALI launched four projects worth a total of P13.7 billion, consisting of horizontal developments in Cavite, Laguna, and Pampanga.Residential reservation sales during the period reached P33.3 billion, up 20 percent year on year and 19 percent quarter on quarter, driven by the robust demand in the premium and vertical segments.'It's really focusing on the right segment, capitalizing on our capabilities in that segment, and having a good lineup of projects,' Bautista-Dy saidAlveo Land, ALI's brand for upscale properties, reported all-time high reservation sales of P12.7 billion from January to March, thanks mainly to horizontal development launches.The first-quarter sales figure was 41 percent higher than the P9 billion generated a year earlier and topped by 17 percent the previous record of P10.8 billion seen in 2019.Alveo President Joseph Carmichael Jugo has said that the premium market was 'very robust and resilient' as it remained less affected by macroeconomic headwinds such as high interest rates.ALI saw its earnings surge 39 percent to P6.3 billion in the first three months on the back of sustained property demand and consumer activity, while its topline expanded 33 percent year-on-year to P41 billion.The Ayala Group's property development arm has programmed P100 billion for capital spending this year as it embarks on a multi-year plan to double its business by 2028.Ayala Land shares closed 2.33 percent lower at P27.20 each last Friday.
Land Banking On Premium Segment
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