Ayala Land Inc. reported a 14 percent improvement in net income to P3.2 billion in the first quarter of 2022 from P2.78 billion in the same period last year, supported by continuing cost-efficiency measures amidst the pandemic.
Capital expenditures reached P14.0 billion in the first quarter of 2022, mainly for residential developments, followed by commercial leasing assets. The Company is set to introduce four master-planned estates in the country to increase its presence, add new products for communities and businesses, and support the economy’s reopening.
Ayala Land launched seven projects with a total value of P17.0 billion in the first quarter of 2022. These were in Carmona, Cavite; Morong, Bataan; Nuvali, Laguna; Pasay City; Tagaytay City, Cavite; and Iloilo.