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Ayala Land, Inc.

Company Background

Ayala Land was created in 1988 when the Ayala Group decided to spin off its real estate division so that it could focus on property development. The company, one of the largest in the Philippines, has core operations in property development and management, commercial leasing, as well as hotels and leisure services.


Ayala Land also does businesses outside its core real estate operations to complement its mixed-use communities, which the company is known for. In 2013, Ayala Land teamed up with medical center operator Mercado Group of the Philippines to establish hospitals and clinics located in the company's mixed-use developments. The first QualiMed clinic opened in February 2014. Ayala Land in 2013 also partnered with listed supermarket operator Puregold Price Club for the development of supermarket chains in Ayala Land properties.


Company CEO Bernard Vincent Dy earned an MBA as well as a master's in international relations from the University of Chicago. He used to be Ayala Land's chief operating officer.

Business Summary

Ayala Land, Inc. engages in the development of real estate properties. It operates through the following segments: Property Developments, International, Shopping Centers, Offices, Hotels and Resorts, Construction, and Property Management and Others. The Property Developments segment involves in the sale of high-end and upper middle-income residential lots and units, affordable housing units and lots, economic housing and leisure community developments. The International segment includes development and sale of residential lots and units in MCT Berhad. The Shopping Centers segment involves in the development of shopping centers and lease to third parties of retail space and land therein; operation of movie theaters, food courts, entertainment facilities, gas stations and carparks. The Offices segment includes development and lease or sale of office buildings; sale of industrial lots and lease of factory building. The Hotels and Resorts segment comprises of development and management of hotels and resorts or serviced apartments and lease of land to hotel tenants. The Construction offers land development and construction of the Group and third-party projects. The Property Management and Others includes facilities management of the Group and third-party projects. The company was founded on June 30, 1988 and is headquartered in Makati City, Philippines.

Financial Highlights

Dec 2022 PHPUSD
Gross Profit48,214.37M884.32M
Operating income40,809.29M748.50M
Income before tax26,790.25M491.37M
Net income18,617.23M341.46M
Diluted EPS1.250.02
Dividends Per Share----
Total Assets782,130.78M14,034.91M
Total liabilities485,989.99M8,720.82M
Total equity257,728.45M4,624.79M
Operating cash flow26,348.35M483.26M
Currency in PHPCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 165,291.25M 166,897.70M 95,294.41M 105,067.67M 124,794.29M
Gross Profit 63,571.51M 71,320.00M 37,675.95M 39,655.49M 48,214.37M
Operating income 54,704.41M 61,908.62M 29,109.85M 32,520.74M 40,809.29M
Income before tax 45,201.02M 49,863.88M 14,466.70M 19,444.97M 26,790.25M
Net income 29,240.88M 33,188.39M 8,727.15M 12,228.14M 18,617.23M
EBITDA 60,639.31M 70,783.64M 38,682.43M 41,420.72M 50,498.01M
Diluted EPS 1.98 2.24 0.58 0.82 1.25
Dividends Per Share 0.52 0.26 0.27 0.27 --
Total Assets 671,195.93M 715,801.45M 723,757.13M 747,749.00M 782,130.78M
Total liabilities 449,298.17M 471,217.71M 461,315.04M 474,962.04M 485,989.99M
Total equity 188,976.40M 212,928.20M 224,802.61M 234,905.40M 257,728.45M
Operating cash flow 11,767.91M 36,012.23M -12,507.49M 8,450.91M 26,348.35M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 3,137.47M 3,223.18M 1,921.23M 2,131.42M 2,288.91M
Gross Profit 1,206.68M 1,377.35M 759.58M 804.45M 884.32M
Operating income 1,038.37M 1,195.60M 586.88M 659.72M 748.50M
Income before tax 857.98M 962.98M 291.66M 394.46M 491.37M
Net income 555.03M 640.94M 175.94M 248.06M 341.46M
EBITDA 1,151.02M 1,366.99M 779.87M 840.26M 926.21M
Diluted EPS 0.03 0.04 0.01 0.01 0.02
Dividends Per Share 0.00 0.00 0.00 0.00 --
Total Assets 12,764.01M 14,133.70M 15,070.89M 14,663.90M 14,034.91M
Total liabilities 8,544.22M 9,304.32M 9,606.02M 9,314.35M 8,720.82M
Total equity 3,593.73M 4,204.32M 4,681.09M 4,606.66M 4,624.79M
Operating cash flow 223.37M 695.48M -252.16M 171.43M 483.26M

Valuation Measures

Dec 2022
Operating margin32.70%
Profit margin14.91%

Key executives

  • President, Chief Executive Officer & Director: Bernard Vincent Olmedo Dy
  • Chief Financial & Compliance Officer, Treasurer: Augusto Cesar D. Bengzon
  • VP, Chief Information & Data Protection Officer: Amelia Ann T. Alipao
  • Senior Compliance Manager: Michelle Marie T. Valbuena
  • Executive Vice President: Anna Maria Margarita Bautista Dy


  • Ayala Corp. (50.8%)
  • The Vanguard Group, Inc. (1.7%)
  • APG Asset Management NV (1.2%)
  • Norges Bank Investment Management (1.2%)
  • BlackRock Fund Advisors (0.9%)
  • Capital Research & Management Co. (World Investors) (0.9%)
  • Abrdn Asia Ltd. (0.7%)
  • BAMCO, Inc. (0.4%)
  • Fidelity Management & Research Co. LLC (0.3%)
  • Schroder Investment Management (Hong Kong) Ltd. (0.3%)

Contact Details

  • Website:
  • Address: Tower One & Exchange Plaza, Ayala Triangle, Makati City, 1226, Philippines
  • Phone: +63.2.908.3000

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Last Updated on 1 Jun, 2023

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