Registering growth across its business segments in spite of current headwinds.
In its disclosure, property giant Ayala Land, Inc. (ALI) reported that its revenues hit PHP 37.5 billion in the first quarter of 2026, while its net income reached PHP 5.4 billion during the same period.
Furthermore, property development revenues totaled PHP 20.3 billion for the quarter and generated PHP 28.2 billion in sales reservations.
ALI noted that this reflected “sustained demand across its Premium, Core, and Estate lot offerings.”
During the first three months of the year, residential sales stood at PHP 24.4 billion, matching sales in the previous quarter, with the company focused on its existing inventory and delivering 13,000 residential units in 40 projects to buyers this year.
Meanwhile, leasing and hospitality revenues increased 9% year-on-year to PHP 12.6 billion, which it told was driven by the improving occupancy rate, higher tenant sales, and the contribution of its newly opened and redeveloped assets across its mall, office, and hotel portfolio.
Shopping center revenues reached PHP 5.8 billion.
In the same period, there have been improved mall traffic in its malls, as well as the “reinvention” of its flagship assets such as TriNoma and Ayala Center Cebu, alongside the opening of Ayala Malls Arca South, which added 17,500 square meters of gross leasable area.
Over to the hospitality segment, revenues reached PHP 3.4 billion, driven by new capacity from the acquisition of New World Makati Hotel and stronger performance from renovated properties, including Seda hotels, Holiday Inn, and Lagen Resort in El Nido.
Its office leasing revenues remained stable at PHP 3.0 billion, with occupancy levels continuing to outperform industry benchmarks.
The growing industrial real estate portfolio also contributed PHP 439 million in revenues, a 23% higher from the same period last year.
ALI noted that it was bolstered by higher occupancy across dry warehousing and cold storage facilities.
“Our leasing platform is delivering steady growth and providing greater stability to the business,” said Meean Dy, President and CEO of Ayala Land.
She added, “These results reflect the strength of our diversified portfolio and the continued ramp-up of assets we have invested in over the past few years.”
EXPANSION
ALI is also accelerating the expansion of its recurring income base, which, it noted, forms part of the company’s long-term strategy to build a more balanced portfolio, with recurring income streams providing stability across cycles.
ALI plans to deliver over 270,000 square meters of new mall and office space, alongside the re-opening of the five-star Mandarin Hotel.
Moreover, the company’s Capital Expenditures (CAPEX) for the first quarter of 2026 was PHP 23 billion, with the CAPEX spend for Leasing jumped 53% to PHP 6.1 billion compared to the prior year, for the expansion and reinvention of the portfolio.
Dy noted that with the current environment requiring them to have a more “deliberate approach” to how they deploy capital and manage their pipeline, Ayala Land is “actively reshaping” its portfolio.
Particularly, it it scaling its recurring income, delivering existing projects, and positioning the business to “emerge stronger and more balanced through the cycle.”
Reinforcing its commitment to shareholders, ALI also declared regular and special cash dividends totaling PHP 5 billion in February 2026, a 19% increase from the first-half dividends of 2025.
Meanwhile, following the full utilization of a PHP 28 billion share buyback program, a new PHP 10-billion program was approved in March to provide an additional instrument to return capital to shareholders.