Ayala Land, Inc. (ALI) delivered net income of P21.4 billion in the first nine-months of 2025, with steady contribution of its Property Development Business and complemented by its expanding Leasing portfolio. Consolidated revenues totaled P121.8 billion during the period.
PROPERTY DEVELOPMENT
Revenues from the Property Development business reached P75.9 billion with steady Premium Residential bookings, improved third-quarter Core Residential segment revenues, and higher commercial lot and office-for-sale revenues that offset softer residential performance. Combined revenues from the sale of offices and commercial and industrial (C&I) lots climbed 3% year-on-year to P12.8 billion, owing to strong lot sales in the first semester, complemented by office-for-sale bookings at Makati CBD, Vertis North, and Arca South.
Total Sales Reservations for residential products and C&I lots improved 3% year-on-year to P111.7 billion, driven by steady take-up of Premium projects, improving demand for Core projects, and growing reservations for C&I lots.
The Company launched P51.3 billion worth of property development projects in the first nine months of 2025, anchored by AyalaLand Premier’s Laurean Residences at the Makati CBD. 91% of the projects are vertical and horizontal residential projects while the balance of 9% for commercial and industrial lots across Ayala Land estates.
LEASING AND HOSPITALITY
Revenues from Ayala Land’s growing Leasing and Hospitality portfolio rose 6% to P35.1 billion from topline growth across all asset classes. Notwithstanding full-swing reinvention works, Shopping Center revenues increased 4% to P17.4 billion from increasing contributions of new malls and healthy operations of existing malls. Moreover, Office Leasing revenues expanded by 6% to P9 billion, supported by better-than-industry occupancy rate of the portfolio. Hospitality revenues posted a 4% growth to P7.4 billion on the back of stable portfolio occupancy and the contributions of the recently acquired New World Makati Hotel, despite the temporary closure of select assets for renovation.
“Ayala Land continues to navigate market challenges with discipline and focus,” said ALI President and CEO Ms. Anna Ma. Margarita Bautista-Dy. “We remain committed to expanding our leasing portfolio, enhancing property development fundamentals, and driving disciplined execution and capital efficiency. These, together with our quality improvements, are the key ingredients that will enable Ayala Land to sustain long-term growth.” she added.
CAPEX, BALANCE SHEET AND SHAREHOLDER VALUE
Total capital expenditures spent for the first nine months of 2025 reached P65.5 billion. 40% was spent on the construction and build-out of residential projects, 26% for the completion of leasing and hospitality assets, 20% for priming and development of mixed-use estates across the country, and 13% for continuing payments for land acquisition commitments.
Ayala Land sustained its healthy balance sheet position with net gearing ratio of 0.77:1 and interest coverage ratio of 4.9x. Consistent with its enduring commitment to shareholder value, Ayala Land is set to return a combined P15.7 billion (56% of 2024 Net Income) worth of capital to shareholders with P8.5 billion from total annual cash dividends and P7.2 billion from its continuing active share buyback program. Last October, the Company declared its 2nd-half cash dividends of P0.2928/share, payable to shareholders on November 26, 2025. This will bring total dividends disbursed for the year to P0.5816/share.
