Ayala Land Q1 net income up 39% to P6.3B

AYALA Land Inc. saw its net income surge 39 percent year-on-year to P6.3 billion in the first three months of 2024, driven by sustained property demand and consumer activity.Consolidated revenues, meanwhile, expanded 33 percent year-on-year to P41 billion, the upscale property developer said in a disclosure on Wednesday.

The Ayala-led developer spent P18.8 billion for first-quarter capital expenditures, with the bulk, or 49 percent, earmarked for residential projects.Thirty percent of the budget was spent on estate development, 9 percent on land acquisition, 11 percent on commercial leasing projects and the remaining 1 percent for other purposes.

Source: Real Estate Daily Report (realestatedailyreport.net)

Land Q1 Net Income Up 39% To P6.3B

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