ALLHC income for 9 mos grew 41%

From Business Mirror

AyalaLand Logistics Holdings Corp. (ALLHC), a unit of Ayala Land Inc., said its income for the nine months of the year through September grew 41 percent to P565 million from last year’s P400.43 million.

Revenues grew at a much slower pace to P2.8 billion, a 5-percent increase from the previous year’s P2.62 billion.

“Demand for industrial lots stayed solid, warehouse leasing remained resilient, while mall operations showed encouraging recovery,” AyalaLand Logistics COO Patrick C. Avila said.

“We trust business performance of our diversified portfolio to be sustained for the remainder of the year as we continue to experience increased economic activity,” said Avila.

For the 9-month period, the company said its revenues from industrial lot sales grew as “healthy demand” from domestic buyers continues.

Warehousing leasing revenues reached P518 million, a 73 percent rise from last year, driven by additional gross leasable area coupled with improved overall occupancy.

Cold storage revenues, meanwhile, accelerated close to triple to P89 million from P32 million last year due to the addition of ALogis Artico’s second facility.

Commercial leasing generated revenues of P665 million, double from the previous year.

In May, the company signed an agreement with Singapore-based Flow Holdings I Philippines Pte. Ltd., for the development of carrier-neutral data centers across the country.

The initial roll-out will target the delivery of a 4.5 megawatt-capacity facility ready for service by the fourth quarter next year.

Flow’s modular product deployment approach, combined with a strong focus on connectivity and sustainability, will help maximize design flexibility and accelerate time-to-market, the company said.

Flow is a regional platform providing customized solutions to meet the growing demand for digital infrastructure in Asia- Pacific.

The company was launched in 2021 by PAG Real Estate Ltd., an alternative investment firm focused on the Asia Pacific with $50 billion in assets under management, including $2 billion in data center assets. — VG Cabuag