For the second consecutive year, Ayala Land, Inc. (ALI) surpassed its Php100 billion capital expenditure (CAPEX) target as it continued to invest in new mixed-use developments across the country. CAPEX in 2019 reached Php109 billion, equivalent to 64% of gross revenues.
“We continue to serve new areas in the country and reach out to a broader market with more affordable products. This is in line with our mission to enrich the lives of more Filipinos. Furthermore, we continue to invest in all our existing estates which help spur economic activity in their respective localities,” said Bernard Vincent Dy, ALI President and CEO.
New project launches
ALI launched Php158.9 billion worth of property development projects and Php15.1 billion in malls, offices, and hotels resorts in 2019 as it continued on its thrust to build sustainable, integrated, mixed-use communities across the country.
The company also continues to extend its reach to serve the broader housing market. Its Avida, Amaia, and Bellavita residential brands delivered 11,476 units in 2019 and have, over the last five years, increased its delivered unites by 28% year on year.
Among ALI’s major launches for the year was Cresendo in Tarlac – ALI’s 29th estate to date. The company invested Php18 billion to develop the 290-hectare “new downtown” in Tarlac, which is three klilometers from the Subic-Clark-Tarlac Expressway (SCTEX) and MacArthur Highway. A 32-hectare industrial park for light to medium industries and a commercial row of shop houses are poised to jumpstart local business and employment in the area. To promote skills-building among Tarlac’s young population given the potential employment opportunities, a Don Bosco Technical and Vocational School is set to open by 2025.
