Ortigas Land sees income rising at double-digit rates in 5 years

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Photo from: Ortigas Land FB page

By: Business Mirror

Ortigas Land Inc., a company jointly owned by the Ayala and SM groups along with the Ortigas family, hopes to grow at double-digit rates annually in the next five to six years as a result of its series of developments in Metro Manila, as it plays catch-up to bigger property developers.

The company said around 70 percent of the company’s revenues is still coming from the sale of its property development projects such as condominium units and office spaces, while the rest comes from its shopping malls.

The company had a net income of P2.3 billion last year, a growth of several folds from a mere P100 million in profits, when the company transformed from a family-controlled business in 2014.

Ortigas Land said it will spend between P15 billion and P20 billion as capital expenditures in the medium term in order to sustain the company’s growth.

 

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