Philippine real estate giant Ayala Land, Inc. got a boost from its residential real estate business with the release of its second-quarter earnings. Officials said that the company got P2.51 billion in profit from January to June of this year, which is more than 30 percent higher than its profits during the same period in 2009.
It’s an exciting time to be in the residential Philippine real estate business, as there’s been a lot of growth in revenues. Almost P19 billion was earned during the first six months of 2010, and the growth in Ayala Land simply reflects the overall mood of the country.
The company plans to raise its housing production by almost 3,000 units from its previous target of 9,275. Buying a Makati house nowadays, as well as those in other areas, can be made easier with this growth. It’s sure to be a great year for the Philippine real estate industry.
