Ayala Land, Inc. (ALI), one of the Philippines’ leading property developers, today announced a robust financial performance for the first half of 2025, posting a P14.2 billion net income, an impressive 8% growth compared to the same period last year. This significant achievement was anchored by the sustained strength and diversification of the Company’s extensive portfolio.
Consolidated revenues for the first six months of 2025 reached P83.1 billion, propelled by steady Property Development revenues and solid contributions from its Leasing and Hospitality operations.
Property Development Sees Strong Momentum
First-half Property Development revenues stood at P52.3 billion, largely fueled by robust Commercial and Industrial (C&I) Lot revenues and resilient bookings from the Premium Residential segment. Revenues from the Residential business reached P41.3 billion, primarily due to higher recognized revenues from AyalaLand Premier (ALP) and Alveo projects.
C&I revenues saw a substantial 42% jump to P9.1 billion, driven by strong sales of lots in key developments such as Arca South in Taguig City, Circuit Makati, and Arillo, ALI’s emerging Leisure estate in Batangas. Additionally, revenues from Offices-for-Sale increased by 5% to P1.9 billion, boosted by new sales bookings.
Total Sales Reservations for the Property Development business amounted to P73.7 billion, averaging P12.3 billion in monthly sales for the first six months of 2025. This represents a 4% improvement over the P11.8 billion average monthly sales for the full year of 2024. The Premium Residential segment led sales with P40.6 billion, while demand for C&I lots expanded by 7% to P8.0 billion. The Core Residential business also showed notable growth in the second quarter, generating P14.6 billion in sales, up 11% year-on-year and 39% quarter-on-quarter, bringing first-half sales to P25.1 billion.
During the period, Ayala Land launched new property development projects valued at P42.9 billion, including ALP’s Laurean Residences in Makati Central Business District, commercial lots at Areza in Lipa City, Batangas, and industrial lots at Cavite Technopark.
Leasing and Hospitality Achieve Record-High Revenues
ALI’s Leasing and Hospitality Group recorded its highest first-half revenues in history, reaching P23.2 billion, a 5% improvement from the previous year, despite ongoing reinvention works for its flagship malls and hospitality assets.
Shopping Center revenues increased 5% to P11.6 billion, driven by increasing contributions from both core and new malls. Similarly, Office Leasing revenues grew by 5% to P5.9 billion, supported by a solid single-digit vacancy rate across the portfolio. Hospitality revenues reached P4.9 billion, maintaining healthy occupancy despite renovations affecting nearly 900 rooms during the first half. The Industrial Real Estate business, comprising dry warehouses, cold storage facilities, and industrial land, generated P762 million in revenues, a significant 60% increase from last year, attributed to industrial land owned by AREIT and incremental revenues from new facilities.
Outlook and Shareholder Value
“Our sales momentum is improving, and we are preparing for a busy second half with P57 billion in new property development launches, and the completion of reinvention works of malls and hotels,” said Ms. Anna Ma. Margarita Bautista-Dy, ALI President and CEO. “These initiatives will support our growth aspirations for 2025 and beyond.”
Capital expenditures for the first semester of 2025 reached P40.2 billion, with 42% allocated to residential projects, 25% for leasing and hospitality assets, 23% for mixed-use estate priming, and 10% for land acquisition commitments. The Company maintains a healthy financial position with a net gearing ratio of 0.76:1 and an interest coverage ratio of 5x.
Ayala Land remains dedicated to delivering shareholder value. As of end-June 2025, a combined P10.1 billion in capital was returned to shareholders, comprising P4.2 billion from first-half cash dividends and P5.9 billion from its active share buyback program. This amount is equivalent to 36% of the Company’s full-year 2024 net earnings.
