Saturday, February 3, 2018

Ayala Land, Inc. (ALI)

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For the updated or exact information, you should check edge.pse.com.ph or their official website.

1. Company Information
Company Name
Ayala Land, Inc. (ALI)
Sector
Property
Incorporation Date
Jun 30, 1988
Subsector
Property
Number of employees
429 (Parent Only)
Board of Directors
Chairman: Fernando Zobel de Ayala, Vice Chairman: Jaime Augusto Zobel de Ayala
Website / E-mail
http://www.ayalaland.com.ph / iru@ayalaland.com.ph
2. Stock Information
Total Assets
561,740,014,000
Market Capitalization
629,491,508,104.50
Total Liabilities
377,055,966,000
Outstanding Shares
14,724,947,558
Retained Earnings
102,481,338,000
Listed Shares
14,552,590,453
Listing Date
Jul 05, 1991
Issued Shares
14,724,947,558
Board Lot
100
Free Float Level (%)
52.02%
Par Value
1.00
Foreign Ownership Limit
40%
3. Major Stock Holders
AYALA CORPORATION
PCD NOMINEE CORPORATION (NON-FILIPINO)
PCD NOMINEE CORPORATION (FILIPINO)
46.8176%
39.0871%
12.1209%
4. Company Descriptions and Business Development
Notes
1. Related companies: ALI, CHI, POPI and AC, BPI, GLO, IMI
2. Sold Family Mart shares to PNX.(SSI also sold its share to PNX)
Overview
Ayala Land, Inc. (ALI) is the real estate arm of the Ayala Group. Its defining project was the development of a planned mixed-use community on 930 hectares of swamp and grassland in the Makati district of Metro Manila. Over the course of the following 25 years, the Ayala Group
transformed Makati into the premier central business district of the Philippines and a site of some of Metro Manila’s most prestigious residential communities. Ayala Land has become the largest real estate company in the Philippines engaged principally in the planning, development, subdivision and marketing of large-scale communities having a mix of residential, commercial, leisure and other uses. Ayala Land was organized in 1988 when Ayala Corporation decided to spin off its real estate division into an independent subsidiary to enhance management focus on its real estate business.
As of December 31, 2016, Ayala Land has 9,852 hectares land bank and believes that it is sufficient for development in next 25 years. Nevertheless, it continues to seek more property acquisition opportunities.

Business Development
In March 2016, ALI bought additional common shares of CHI (Cebu Holdings, Inc.). This increased the Company’s stake from 56.40% to 66.87% of the total outstanding capital stock of CHI.
On March 14, 2016, the Company acquired 55% interest in Prow Holdings, Inc. The acquisition was made in line with the Company’s partnership with Leonio Land, Inc. to develop a mixed-use community in Porac, Pampanga.
On March 1, 2016, SIAL Specialty Retailers, Inc. (“SIAL”), a joint venture company between ALI and the SSI Group, Inc., entered into a Deed of Absolute Sale with Metro Retail Stores Group, Inc. to sell fixed assets including fit-outs, furniture, fixtures and equipment in SIAL’s department stores located at Fairview Terraces and UP Town Center.
In March 2016, the Company acquired an 18% stake in OCLP Holdings, Inc. (OHI), consistent with its thrust of expanding operations into other areas within and outside Metro Manila through partnerships. OHI holds 99.51% equity interest in Ortigas & Company Limited Partnership (OCLP), an entity engaged in real estate development and leasing businesses.
On August 11, 2015, ALI has won the bid for the Integrated Transport System Project South Terminal (“ITS South Project" – 5.57 ha, 35-year concession agreement with DOTR).
On April 08, 2015, ALI purchased all of the 8.2 million common shares of Aegis PeopleSupport Realty Corporation amounting to P435M. Aegis PeopleSupport Realty Corporation is a PEZA-registered entity and the owner of Aegis building along Villa Street, Cebu IT Park, Lahug, Cebu City.
ALI Capital Corporation (formerly Varejo Corporation), a subsidiary of Ayala Land, entered into a joint venture agreement with Entenso Equities Incorporated, a wholly-owned entity of Puregold Price Club, Inc., to develop and operate mid-market supermarkets for some of Ayala Land’s mixed-use projects. The first supermarket was opened in the 3rd quarter of 2015 at UP Town Center.

Business
Revenue contribution in 2016 (in million pesos)
Shopping Center
Corporate Business
Residential
Landbank
Construction
Hotels and Resorts
Property Management
Others
15,495
5,543
75,391
7,132
65,316
6,052
2,101
495
8.73%
3.12%
42.47%
4.02%
36.79%
3.41%
1.18%
0.28%

Corporate businesses - development and lease or sale of office buildings; sale of industrial lots and lease of factory building.
Strategic landbank management and Visayas-Mindanao - acquisition, development and sale of large-scale, mixed-use, masterplanned communities; sale of override units or the Company’s share in properties made available to subsidiaries for development; lease of gas station sites and carparks outside Ayala Center. This also includes development, sale and lease of, shopping centers and residential developments of the Group’s product offerings in key cities in the Visayas and Mindanao regions.


Subsidiaries / Associates / Affiliates / Joint Ventures
Ayala Land Sales, Inc. (ALSI), a wholly-owned subsidiary, employs commission-based sales people.
Makati Development Corporation (100%)
Ayala Land International Sales, Inc. (ALISI), leads the marketing, sales and channel development activities and marketing initiatives of the Ayala Land’s residential brands abroad. Currently, ALISI has established marketing offices in California, Hong Kong, Singapore, Dubai and Italy.
Ayala Land Premier leads in the luxury segment with the launch of its high-value residential lots and condominiums. Projects launched in the past three years include residential lots namely Riomonte in Nuvali, Laguna and The Courtyards in Vermosa, Cavite, and residential condominiums such as East and West Gallery Place at Bonifacio Global City, Park Central South Tower and Two Roxas Triangle in Makati, and Arbor Lanes in Arca South.
Alveo Land Corp., 100% owned subsidiary, offers various residential lots, and residential and office for sale tower products in the middle-income segment. Projects launched in the past three years include Ardia in Vermosa, Montala in Alviera, Mondia in Nuvali, Aveia 1 in Laguna, The Gentry Residences and Callisto Tower One in Makati, Alveo Park Triangle in BGC, North Veranda in Arca South, and Patio Suites in Abreeza.
Avida Land Corp., a 100% owned subsidiary, continued to develop affordable housing projects which offer house-and lot packages and residential lots, and residential and office for sale tower products to affordable income segment. Projects launched in the past three years include Avida Sola Tower 1 in Vertis North, Avida One Union Place in Arca South, Avida Prime Taft Tower 3 in Manila, Avida One Antonio Place in Makati, Avida Settings in Lipa, and Avida Atria Tower 2 in Iloilo.
Amaia Land Corp., wholly owned subsidiary of Ayala Land, was established to pursue a planned expansion of residential development operations to cater to the country’s economic housing segment. Projects launched in the past three years include Amaia Scapes Bauan, Amaia Scapes San Fernando, Amaia Scapes Bulacan, Amaia Steps Altaraza and Amaia Steps Capitol Central among others.
BellaVita Land Corp., a wholly owned subsidiary of Ayala Land, aims to establish the country’s first social enterprise community development targeting minimum wage earners and members of the informal business sector. Its first project in General Trias, Cavite was launched in December 2011. Projects launched in the past three years include San Miguel, Iloilo, Lian, Batangas and Porac, Pampanga among others.
Serendra, Inc., 28%-owned by ALI and 39%-owned by Alveo, is engaged in residential developments at the BGC in Taguig. Solinea (formerly Bigfoot Palms, Inc.), a landholding entity, was acquired on March 05, 2011 through Alveo Land Corporation through acquisition of 65% shares of stock. The remaining 35% was acquired by Cebu Holdings, Inc., a subsidiary of the Group.
Portico Land Corp., a subsidiary of Alveo was incorporated on October 2, 2013. Portico is 60% owned by Alveo and 40% by Mitsubishi Corporation. The subsidiary was organized to develop and operate a mixeduse development located near Ortigas center.
Roxas Land Corp., 50% owned, sold-out One Roxas Triangle in 2007.The project was started in 1996 and was completed in September 2001. Two Roxas Triangle was launched in November 2014 and is fully sold-out.
Ayala Greenfield Development Corporation (“AGDC”), 50-50% owned by Ayala Land and Greenfield Development Corporation, started developing Ayala Greenfield Estates, a high-end residential leisure subdivision located in Calamba, Laguna in 1999. Over the past twelve years, AGDC continued to develop and sell lots of this high-end residential subdivision.
BG West Properties, Inc., BG South Properties, Inc. and BG North Properties, Inc. were incorporated to engage in the development of high-end, middle-end and affordable residential and office for sale projects, respectively, in Bonifacio Global City. Projects launched in the past three years include The Suite, Park Triangle Residences and Corporate Plaza, One and Two Meridian and East and West Gallery.
Avencosouth was incorporated in the Philippines and is currently engaged in condominium development operations. Ayala Land holds 90% indirect interest in Avencosouth as of December 31, 2012, from the 70% ownership by Avida. Avida Towers Davao Project is under Avencosouth.
Verde Golf Development Corporation, a wholly owned subsidiary of the Company, develop, maintain, operate, manage and carry on the business, operation and management of the Southlinks golf facilities for the amusement, entertainment, recreation, leisure and athletic activities of the general public.
Ayala Land International Marketing, Inc., a wholly owned subsidiary of ALISI, was incorporated on
February 28, 2012 to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations Code.
Ayala Land International (Singapore) Pte. Ltd was incorporated by ALISI on April 7, 2013 with the same objectives as ALIM.
Ayala Land International Marketing (Hong Kong) Ltd. was incorporated by ALISI when it further expanded by acquiring First Folio Limited in Hong Kong on November 20, 2013.
Amaia Southern Properties, Inc. was organized and incorporated on February 12, 2013 by Amaia together with Cebu Holdings Inc. (CHI), primarily to purchase and develop new real estate properties for planned projects in the south. ASPI is 65%-owned by Amaia and 35% by CHI.
Southportal Properties, Inc. was incorporated on December 1, 2014. It is 65% owned by the Company and the remaining 35% is held by CHI. The primary purpose of the Group is to develop, sell and manage the operations for 1016 Residences, an Ayala Land Premier project in Cebu.
Southgateway Development Corporation, a wholly owned subsidiary of Ayala Land, was incorporated on October 19, 2012 primarily to develop of Cloverleaf estate located in Balintawak in Quezon City.
Regent Wise Investments Limited (Regent Wise), a wholly owned subsidiary of Ayala Land is registered in Hongkong and holds 32.95% in MCT BHd, Malaysian development and construction company; a 40% investment in Tianjin Eco-city Ayala Land Development Co., Ltd., for the development and sale of residential condominium in Tianjin, China, and in British Columbia, Canada.
AyalaLand Real Estate Investments Inc. was incorporated on February 4, 2013 under the laws of British Columbia, Canada. It is 100%-owned by the Company through RegentWise. It is the beneficiary of the Trust and a Shareholder of Rize-AyalaLand (Kingsway) GP Inc. As of December 31, 2014 and 2013, it is a party to the Rize-AyalaLand (Kingsway) Limited Partnership.

Prime Orion Philippines Inc. (POPI) On February 24, 206, Ayala Land purchased 51% interest in POPI. POPI owns Tutuban Center, a retail complex with a gross leasable area of 55,680 sqm in Divisoria, Tutuban Center, which sits on a 20-hectare property. It will be the location of the planned LRT2 Grand Central Station. POPI is listed in PSE.
Makati Development Corporation (MDC), 100% owned by Ayala Land, engages in engineering, design and construction of horizontal and low-rise vertical developments. It servicea site development requirements of Ayala Land-related projects while providing services to third-parties in both private and public sectors.
Whiteknight Holdings, Inc. (WHI) was registered on May 14, 2013. The Company entered into an agreement with the Mercado family to acquire WHI in July 2013. The transaction was consummated in November 2013, thereby making WHI a wholly owned subsidiary of the Company. WHI owns 33% equity stake in Mercado General Hospital, Inc., owner and operator of the Daniel O. Mercado Medical Center in Tanauan, Batangas, the University Physicians Medical Center through its subsidiary Mercado Ambulatory and Surgical Centers, Inc., DMMC - Institute of Health Sciences, Inc. and Panay Medical Ventures, Inc.
ALI Capital Corp, a wholly owned subsidiary of the Company, is the holding company of the Company for its retail related initiatives.
Integrated Eco-Resort, Inc. is a wholly owned subsidiary of ALI Capital Corp. incorporated to engage in land and real estate business development particularly the Caliraya Lake project.
Island Transvoyager, Inc., a wholly owned subsidiary Ayala Land thru ALI Capital Corp. ITI was incorporated on October 2, 2002 with the primary purpose of carrying on the general business of a common carrier and/or private carrier. ITI is the only airline commercially flying from Manila to Lio in El Nido, Palawan. It is expected to be a key player in the industry as it flies to more tourism destinations not serviced by the bigger commercial airlines.

ALI has numerous more subsidiaries / associates / joint ventures for the purpose of strategic land bank management, shopping center leasing, corporate business and hotel/resort businesses.

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MARKET ISSUES

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