MANILA - Ayala Land Inc. on Wednesday said its net income in 2016 grew 19 percent to P20.9 billion, driven by growth in its estates and core businesses.
Consolidated revenues jumped 16 percent to P124.6 billion on the back of the stable growth of its property development business, balanced with the steady performance of its leasing portfolio, the company told the stock exchange.
The company said it launched P61.5 billion in residential and office projects last year.
“We continue to reshape our business to achieve a more sustainable level of growth by rebalancing our leasing and property development businesses,” said Ayala Land president and chief executive Bernard Vincent Dy.
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