Ayala Land Inc., the Philippines’ largest property developer by sales, is selling more expensive homes to boost its bottom line as higher interest rates squeeze its less affluent buyers. Chief Executive Officer Anna Ma.
Ayala Land Inc., the Philippines’ largest property developer by sales, is selling more expensive homes to boost its bottom line as higher interest rates squeeze its less affluent buyers.
About 80 percent to 90 percent of new residential projects that Ayala Land plans to offer this year cater to high-end buyers who usually pay in full, she said. At the same time, the company is tempering launches for the middle-income market where 90 percent of its customers seek mortgages to buy property.
Ayala Land has also allotted P13 billion to redevelop four key shopping malls to reflect how shopping habits have changed since the pandemic.
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