AyalaLand Logistics Holdings Corp. (ALLHC) recorded a net income of P346 million in the first semester of 2019, a nearly four-fold growth from its P70-million income in the same period in 2018, driven by strong industrial lot sales and improved leasing income from its warehouse and commercial properties.
Revenues rose to P2.209 billion in the first six months of 2019 from P922 million in the same period last year, according to ALLHC, formerly Prime Orion Philippines, Inc. and a subsidiary of Ayala Land, Inc., in a statement.
Industrial lot sales registered at P522 million in the covered period, more than double from P141 million the previous year. Leasing revenues from warehouse and malls, meanwhile, grew by 30% to P471 million from last year’s P363 million.
“Seeing ALLHC’s transformation into a real estate logistics-focused business coming from Laguna Technopark Inc.’s consolidation in 2018, we are very pleased with our 2019 first half results. We continue to be positive as we intend to improve our performance in our sales and leasing portfolios supported by our geographical expansion,” ALLHC president Maria Rowena Tomeldan said.
Maximizing the domestic and foreign market’s increasing demand for industrial real estate, the company recently acquired Unity Realty & Development Corp., which owns a 102-hectare property in Mabalacat, Pampanga. The land parcel will be used in developing a new industrial park to be named Pampanga Technopark, marking a sizable presence in Central Luzon.
Pampanga Technopark is expected to bring at least 1 million square meters (sqm) of saleable lots and leasable spaces to the company once fully developed. Moreover, ALLHC said the expansion of existing facilities in the Alviera Industrial Park in Porac, Pampanga is expected to generate an additional 12,000 sqm of gross leasable area.
“As we continuously grow geographically, we look forward to our future introduction of other industrial areas to the market. With our existing assets strategically located in Luzon and Mindanao, we look forward to expanding in key areas all over the country in the hopes of fully integrating the network of logistics facilities for our locators,” Tomeldan said.
Other industrial parks in ALLHC’s portfolio include Cavite Technopark and Laguindingan Technopark. It also has warehouses or ready-built facilities for lease in Laguna, Cavite, and Pampanga, as well as retail and office spaces.