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AyalaLand Logistics Holdings Corp.’s net income jumped 75% to P618 million in the first nine months of the year from P354 million year-on-year
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Consolidated revenues also surged 90.5% to P4 billion
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Industrial lot sales revenues reached P2.6 billion while the leasing businesses contributed P1.2 billion from the strong performances of warehouse, cold storage, and commercial leasing
AyalaLand Logistics Holdings Corp.’s (ALLHC) net income jumped 75% to P618 million in the first nine months of the year from P354 million year-on-year.
Consolidated revenues from January to September 2024 also surged 90.5% to P4 billion from P2.1 billion in the same period last year.
Industrial lot sales revenues reached P2.6 billion mainly on account of lots sold at Laguindingan Technopark, coupled with higher completion rates for developing industrial estates, ALLHC said in a statement.
Leasing businesses contributed P1.2 billion from the strong performances of warehouse, cold storage, and commercial leasing.
Warehouse leasing grew its topline to P566 million from P510 million last year given the increase in leasable area and higher occupancy.
Cold storage revenues likewise increased to P153 million from P129 million from the addition of the ALogis Artico Santo Tomas facility in Batangas in the portfolio.
Commercial leasing revenues, meanwhile, registered at P680 million due to improved mall occupancies. “Our investments in leasing business segments have strengthened and diversified our industrial real estate portfolio,” ALLHC president and chief executive officer Robert Lao said.
“We look to deliver on our healthy pipeline of leasable properties which will increase our recurring revenue and enable us to establish a stronger foothold in the real estate logistics industry,” he added.
In the fourth quarter, ALLHC expects to complete the first phase of the ALogis Mabalacat warehouse facility and the ALogis Artico Mabalacat cold storage, which will add 7,700 square meters of gross leasable area and 5,000 cold pallet positions to the portfolio, respectively.
Moreover, construction is also in full swing for the second phase of ALogis Mabalacat, which will contribute an additional 18,000 square meters of warehouse inventory upon its delivery.
A subsidiary of Ayala Land, Inc., ALLHC has principal business interests in holding companies, commercial leasing, industrial lot sales and development, and retail electricity supply.
