Ayala Land supports infrastructure development

Photo screen grabbed from ALIs annual stockholders meeting
Photo screen grabbed from ALIs annual stockholders meeting

Ayala Land Inc. (ALI) has expressed its support for the government's infrastructure development initiatives. During the virtual annual stockholders meeting, ALI Chairman Jaime Augusto Zobel de Ayala emphasized the company's alignment of business aspirations with the needs of the country.

He also mentioned the establishment of the Private Sector Advisory Council (PSAC), where several Ayala Group officials are part of, to recommend projects that will boost the country's infrastructure development.

Zobel said ALI can participate in some of the government's infrastructure projects, tourism, and job creation opportunities.

The government aims to sustain the increase of its infrastructure investment to around 5% of domestic output to ensure long-term economic gain. Recently, the National Economic and Development Authority (NEDA) Board approved the construction of the PHP6-billion University of the Philippines-Philippine General Hospital (UP-PGH) Cancer Center, the PHP17-billion new Dumaguete airport, and an increase in the budget for the rehabilitation of the Metro Rail Transit Line 3 (MRT 3) rehabilitation project.

Meanwhile, ALI reported a 19% increase in revenues in 2022 to PHP126.6 billion and a 52% rise in net income to PHP18.6 billion.

The company plans to launch more projects this year, both for the residential and commercial segments, and targets to launch four new estates to bring the total to 54.

ALI President and CEO Bobby Dy said he remains optimistic about the sustained expansion of the business this year given the continued reopening of the economy despite economic headwinds.

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