November 12, 2020 – AyalaLand Logistics Holdings Corp. (ALLHC), a subsidiary of Ayala Land, Inc. (ALI), posted consolidated revenues of P2.3 billion and net income of P186 million for the first nine months of the year, a decline of 26% and 63% respectively versus the same period last year due to the continuing effects of the COVID-19 pandemic. However, consolidated revenues in the third quarter rose by 86% to P751 million from the second quarter.
“As pandemic-related restrictions slowly ease, we see some recovery in our operations. Interest remains from potential domestic buyers of our available Cavite, Laguindingan, and Pampanga industrial lots. Demand for our warehouses remain and construction for our additional facilities have resumed. For our malls, occupancy and foot traffic are gradually improving. We also launched our malls’ digital business initiatives as we navigate and adapt to the new normal,” said ALLHC President and CEO, Maria Rowena M. Tomeldan.
Revenues from industrial lot sales for the 9-month period amounted to P511 million, slightly lower than the year prior due to parcels sold from ALLHC’s emerging industrial estate in Mindanao, Laguindingan Technopark.
Meanwhile, warehouse leasing revenues posted an increase of 39% at P282 million versus the previous year. The warehouse leasing segment remained stable in the third quarter as revenues increased 9% to P89 million from the second quarter.
Commercial leasing revenues were down by 38% at P369 million compared to the same 9-month period last year given restricted mall operations. In the third quarter however, mall revenues began to bounce back with a 40% increase from the second quarter to P108 million.
ALLHC’s commercial properties also created their online platforms, TutuBuy and ANA South Park Personal Shopper, to offer mall patrons an alternate shopping experience while in the safety and convenience of their homes, and to provide merchants an additional channel where they may offer their products.
ALLHC, through its subsidiary Tutuban Properties, Inc., in partnership with the City of Manila and other Ayala Group subsidiaries, also recently donated new public convenience facilities to the City of Manila. The construction of the facilities located at the Kartilya ng Katipunan Park is part of the City of Manila’s vision to rehabilitate the historic landmark and promote the city’s rich history.