Property giant Ayala Land Inc. is scaling up investments in its recurring businesses as it aims to sustain record growth over the next few years.

ALI president and chief executive officer Antonino Aquino said that apart from residential developments, the company will pour more money into its shopping centers, office, hotels, hospitals, department stores, convenience stores and supermarket developments to achieve “balanced growth”.

“I think the pacing is probably anywhere from four to six new establishments in a year. It is almost like maybe mirroring the type of pacing that they are following on the hospital, the department stores and supermarket side. (But) convenience stores are by the hundreds in terms of the new establishments that they are putting up,” he said.

ALI is also ramping up significantly its land banking efforts, Aquino said noting this will “enable us to be able to have a good platform for future growth.”

“I think for these integrated mixed-use developments, we have identified several new locations that are currently in the planning stage and will be launching in the next couple of months and next year,” he said.

Aquino said it is expanding land bank apart from historical ones in Makati, Taguig and Alabang.

For one, Aquino bared that ALI recently acquired an 11-hectare property located in A. Bonifacio Avenue in Edsa, Balintawak which used to be the business office of Central Textile Mills Inc.

“(That can be developed into) residential, business process outsourcing (BPO). We are also very interested that it is going to be a flagship for the medical (development). Of course there will be a shopping center,” he said.

Aquino is optimistic that growth of these recurring businesses will sustain revenues over the next few years.

“The recurring part of the business is 20 percent which is very fast compared with the rest of the industry. So we would like to be able to hopefully sustain that level of growth,” he said.

ALI booked a record profit of P11.74 billion last year, up by 30 percent from 2012, driven by land banking and project developments.*PNA

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