Keep in touch with the latest news of the country’s real estate industry. My Property has handpicked the top news of the week so you can be aware and stay updated with the changes of the industry.
This week the country’s top real estate companies have reported strong income growth in their first nine months, a sure sign that the real estate industry continues to boom. Meanwhile, Ayala Land voiced out their willingness to join the competitive bid on the Bonifacio South Pointe should the BCDA be able to win the legal battle over the large parcel of land. They also announced their vision to continue boosting their income to a whopping P40 billion by the year 2020.
Ayala’s 20/20 vision
Ayala announced their 20/20 vision plan that is set to boost their net income to P40 billion by the year 2020. According to Rappler, the new business plan should allow Ayala Land to register 20% average annual growth rate in net income from P11.7 billion last year to P40 billion in 6 years. The company aims to achieve this feat through aggressive construction of residential projects, investing further in recurring businesses, and optimizing their landbank.
Rappler.com; November 10, 2014
Megaworld 9-month profit up by 192%
Megaworld achieved a net income of P19.03 billion from January to September of this year, a 192% jump from P6.52 billion achieved in the same period in 2013. Strong residential sales in Newport City, Uptown Bonifacio, McKinley Hill and Eastwood City, as well as higher leasing income from its office and retail sector are attributed to the huge increase in sales.
Business Mirror; November 10, 2014
Ayala land still keen to bid on Bonifacio South Pointe
Ayala Land president and chief executive officer Bernard Vincent O. Dy, said in a chance interview with the Business World that Ayala Land would still join a competitive bidding for the 33.13 hectare property. The large parcel of land is the subject of a legal dispute between the SM Group and the BCDA (Bases Conversion and Development Authority) who wants to sell the land through competitive bidding.
Business World; November 9, 2014
Filinvest gains a net income of 2.98 billion
Fast growth in the residential development and office leasing operations is attributed to the P2.98 billion net income achieved by Filinvest Land Inc. within the first nine months of 2014, 19% higher from the same period a year ago.
Philippine Daily Inquirer; November 11, 2014
Vista Land’s nine month property earnings up by 12%
Manny Villar’s property company reports it achieved a net income of P4.23 million in the first nine months of the year, a 12% increase from the same period of last year. Vista Land expects to continue the strong momentum after earnings grew by double digits.
Interaksyon.com; November 12, 2014