Property giant Ayala Land Inc. ended 2021 on a high note, racking up P12.2 billion in net income amid a spike in revenues owing to relaxed quarantine restrictions.
Total revenues climbed 10 percent to P106.1 billion.
Property development accounted for P75.9 billion of total revenues, up 14 percent due to construction progress and higher project bookings.
Sales reservations went up 13 percent to P92.2 billion, driven by solid demand for lots in Southern Luzon by Ayala Land Premier and Alveo.
Reservations from lot sales alone jumped 36% to P41.5 billion.
Reflecting its bullishness on the residential segment, ALI rolled out 22 projects worth P75.3 billion in 2021 or seven times more than in 2020.
Commercial leasing revenues, however, were five percent lower at P20.6 billion as malls, hotels and resort operations remained limited for most of the year.
Shopping center revenues slipped 13% to P7.9 billion, and hotel and resorts revenues dipped 12% to P2.8 billion.
Revenues from office leasing, on the other hand, went up five percent to P9.9 billion as BPO and Corporate operations remained stable throughout the period.
Relaxed restrictions in the fourth quarter translated into higher mobility and tenant sales which boosted commercial leasing revenues by 35% to P6.4 billion, primarily as shopping center revenues grew 101% to P3.0 billion from the previous quarter and 106% from the same quarter in 2020. Similarly, hotels and resorts revenues improved by 55% to P981 million from the third quarter of 2021 and 62% from the same period last year.
Our focus in 2021 was to ensure we provided the right environment in our communities for our residents, businesses, and institutional locators to adapt and function better while executing our business recovery plans. As the economy moves to full reopening in 2022, we look forward to the acceleration of our business activity backed by our landbank, diversified portfolio, and market-leading estate developments,” said Bernard Vincent O. Dy, Ayala Land President and CEO.
Ayala Land ended 2021 with a net debt-to-equity ratio of 0.77:1, an average borrowing cost of 4.4%, and maturity of 5.3 years as it actively managed debt to keep its balance sheet strong. Capital expenditures totaled P64.0 billion, wherein 52% was spent on residential projects, 17% on land acquisition, 15% on commercial projects, and 14% on estate development.
SOURCE: Bilyonaryo
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