Metro Manila — Ayala Land, Inc.’s (ALI) expansion in leases of mall and office space is one of the contributory factors in its 12 percent increase in net profit for the first half of 2019 from ₱13.5 billion last year.
ALI is the real estate conglomerate of the giant Ayala Corporation.
Circuit Makati, Ayala Malls Feliz in Marikina and Capitol Central’s new establishments contributed more lease revenue which made Ayala Malls generate ₱10.3 billion in profits. These added to “strong” revenues from Glorietta and Greenbelt malls in Makati, as well as Ayala Center Cebu.
Earnings from office leases jumped by… click for more
Source: CNN Philippines
