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ALLHC’s mixed businesses eased the effects of COVID-19 crisis on its 1Q20 performance

May 15, 2020 – AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), registered P1.2 billion revenues and P150 million net income in the first quarter of 2020. The growth in topline was driven by industrial lot sales revenues amounting to P351 million and warehouse leasing revenues of P109 million.  Commercial leasing revenues remained flat at P186 million as a result of the closure of Tutuban Center and South Park Center in mid-March 2020, except for a few establishments providing essentials, following the Enhanced Community Quarantine (ECQ) implementation.

 

COVID-19 Response

 

During this quarantine period, ALLHC’s top priority is the safety and well-being of its employees, customers, merchants, locators, and the community. In line with the Ayala Group’s initiatives to address the pandemic, ALLHC extended assistance to those affected. Rent reprieve during the ECQ period was granted to mall merchants who temporarily stopped operations. Free parking was offered to customers of essential establishments such as supermarkets, drugstores, banks, and other basic services. The Company’s frontliners were given basic necessities. Moreover, ALLHC continues to provide assistance to locators and retail and office tenants that remain operational in all its developments.

 

In support of the nation’s frontliners, ALLHC employees have also voluntarily pledged donations through ALI’s “Pay It Forward” campaign to help the Department of Health-designated
COVID-19 referral centers in Metro Manila: the UP-Philippine General Hospital, the Lung Center of the Philippines, and the Dr. Jose N. Rodriguez Memorial Hospital. Employees also assisted in the procurement of medical equipment and supplies for these centers.

 

Under the challenging business environment brought by the ECQ, ALLHC remains optimistic about the recovery of the Philippine economy and is gearing up for the gradual resumption of its businesses.

 

“Our efforts to build up our assets in 2019 with additional industrial estates and logistics facilities have been notable in delivering these first quarter results. We believe that continuously growing and enhancing our assets will effectively bring the company forward,” said ALLHC President and CEO Maria Rowena M. Tomeldan.

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