BUILDER Ayala Land Inc. (ALI) is looking to expand its land acquisition activities to new areas within Metro Manila and neighboring provinces, particularly in the north and eastern areas of the metropolis as it seeks to develop additional mixed-used complexes similar to its 1,860-hectare Nuvali project in Laguna.
In an interview, ALI president Antonino Aquino said the company is looking at areas that include Rizal, Bulacan and Pampanga.
“We are targeting those locations,” Aquino said, adding that this is part of a strategy to develop “several Nuvalis” in the country.
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Chief Finance Officer Jaime Ysmael said that as much as 15 percent of its record P37-billion capital-spending budget this year could be allotted to landbanking activities.
Nuvali, a primary earnings driver for ALI’s upscale brand Ayala Land Premier, is considered one of the company’s most successful developments. The company has already invested P8.8 billion in the project, which is now 45-percent developed. ALI expects to spend another P12.5 billion in the project in five years.
ALI shares rose 2 percent to P19.20 each on Thursday after it disclosed that full-year profits in 2011 rose 31 percent to a record P7.14 billion. The company remains confident that demand across its segments will remain robust in 2012, with the builder preparing to launch 24,800 units this year from 20,613 units in 2011.
Ysmael said 56 percent of ALI’s 2012 capex will be allotted to its residential business while 17 percent will be used to beef its retail and office leasing segment.
He said ALI can borrow between P10 billion and P15 billion this year through the issuance of bonds or other types of debt instruments to finance the record spending plan.
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