DUBAI, United Arab Emirates – Ayala Land Inc. (ALI), the largest property developer in the Philippines, recently marked its 10th anniversary in the United Arab Emirates (UAE) with a growth of 157 percent, surpassing all other international sales and making it the company’s fastest-growing international market.
With a diversified real estate portfolio and growing demand for investments from overseas Filipinos and foreigners from the Middle East region, ALI has registered AED7 billion income in the UAE in 2022, compared to AED2.7 billion a year earlier.
ALI's overall reservation sales rose to PHP104.9 billion, a 14 percent year-on-year increase, with UAE-based Filipinos leading the pack as the most active buyers.
Globally, the surge in sales from overseas Filipinos and foreigners rose by 59 percent and 39 percent, respectively.
This, along with the full reopening of the Philippine economy, enabled ALI to post a consolidated revenue of PHP126.2 billion, 19 percent higher than the previous year. Its net income stood at PHP18.6 billion, 52 percent higher.
ALI Executive Vice President Anna Maria Margarita Dy, who led the high delegation visit from the company to the UAE, said empowering overseas Filipinos through smart investments “is not just a commitment, it’s a responsibility.”
“That is why Ayala Land is proud to be at the forefront of securing a brighter future for them. We are also very pleased to see a growing number of foreign investors from the UAE, which is truly a world-class cosmopolitan and commercial hub. As we mark a decade of presence in the UAE, we reaffirm our promise to continue enriching lives of more Filipinos and making Philippines a preferred real estate investment destination for all,” she said.
Philippine Ambassador to the UAE Alfonso Ver said: “I would like to extend my warmest congratulations to Ayala Land on its 10th anniversary and express my hope that Filipinos in the UAE would continue to make wise investments, particularly in the property sector, to ensure that the fruits of their labor are put to optimal use.”
Bing Gumboc, president of Ayala Land International Sales, Inc. (ALISI), said: “As we witness the UAE's Year of Sustainability, we at Ayala Land are also excited to showcase how Ayala Land integrates eco-efficient practices into all of its developments, from responsible land acquisition and green building design to sustainable construction practices and management.”
Dy highlighted ALI’s sustainable developments in her keynote speech at The Filipino Times Watchlist: Top Engineers and Architects Summit & Awards in the Middle East on March 17.
ALISI also showcased in-demand investment opportunities in the Philippines, one of the fastest-growing economies in Asia, in a series of roadshows from March 17 to 19 in Swissotel Al Ghurair in Dubai and continuing the series of events from March 24 to 26 in the Grand Millennium Al Wahda Hotel in Abu Dhabi.
“Filipinos in the UAE have become more empowered today more than ever. And foreign investors’ confidence has strengthened over the years. Key to that is Ayala Land’s developments that are designed to cater to their evolving needs and dynamic lifestyles. We're proud to be part of their journey and look forward to creating more homes that they'll love,” ALISI regional head Manuel Arbues said.
According to a national survey by The Filipino Times presented at the Global Business Forum during Expo 2020 in Dubai, an overwhelming 96 percent of Filipinos in the UAE expressed positivity towards the continuous expansion and prosperity of the UAE economy in the next 12 months.
The survey also revealed that 89 percent of respondents are confident that their companies' growth will result in increased salaries or compensation packages the following year.
A significant 80 percent of Filipinos residing in the UAE have expressed a strong interest in investing within the next year, bolstered by increased income and improved financial knowledge. (PNA)