Ayala Land unit plans more projects in 2013
AMAIA Land Corp. aims to launch more residential projects this year to capitalize particularly on perceived strong demand from overseas Filipino workers (OFWs) and their families, a top official of the Ayala Land, Inc. subsidiary said late last week.
"We're planning to do eight to 10 projects this year versus only seven in 2012 -- roughly around 8,000 units," Ricky M. Celis, Amaia president, said in a text message last Friday when asked on his company's expansion plans this year.
"We're banking on the increased brand awareness generated by our campaign last year to take advantage of the strong demand in the broad C segment."
In addition to more projects this year, Mr. Celis said Amaia is keen on building up its land bank as it scouts for more properties all over the country.
"We're positioning acquisitions in the CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon) area and key areas in central Luzon and VisMin (Visayas and Mindanao). This will enable us to capture an unserved housing demand of close to 3.9 million units, and a huge part of it (demand) is from OFWs," he explained.
Amaia grew revenues by 85% to P1.55 billion last year from P841 million in 2011 on strong sales of AmaiaScapes Bacolod and AmaiaScapes Cabanatuan, as well as other projects in Cavite; Lipa City in Batangas; Cubao and Novaliches in Quezon City; as well as Sta. Mesa and Avenida in the city of Manila.
"The sales trend last year already shows it's going to be another good year," Mr. Celis said when asked for revenue outlook this year.
He declined to elaborate.
Amaia's parent, Ayala Land, was organized in 1988 when conglomerate Ayala Corp. decided to spin off its real estate division into an independent subsidiary to enhance management focus on real estate.
The listed property developer has earmarked P65.5 billion for capital expenditures this year -- P46 billion for project completion and roughly P20 billion for land banking -- to help bankroll construction of about 69 property projects collectively worth some P129 billion.
Last February, Antonino T. Aquino, Ayala Land president and chief executive officer, said the company expected to post double-digit earnings growth this year, similar to financial results in the last three years.
Ayala Land grew its net income by 30% to P2.76 billion in the first quarter from P2.13 billion in the same three months last year on the strong performance of all its subsidiaries, which -- besides Amaia -- include Alveo Land Corporation; Avida Land Corp.; Laguna Technopark, Inc; and Ayala Property Management Corp.
In the same comparative three-month periods, Ayala Land's consolidated revenues climbed by 38% to P18.53 billion from P13.39 billion, while total expenses rose by 43% to P14.07 billion versus P9.84 billion.
Shares of Ayala Land gained 55 centavos or 1.67% to P33.50 apiece last Friday from P32.95 last Thursday.
Source: Business World
By: Franz Jonathan G. de la Fuente
