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Recovering demand and consumer activity pulled up the earnings of property giant Ayala Land Inc. (ALI) in the first nine months of the year by 15 percent to P21.2 billion.

Consolidated revenues in the January to September period jumped by 27 percent to P125.2 billion, driven by property development revenues, which rose by more than a third to P76.6 billion.

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Residential revenues expanded by 35 percent to P64.2 billion, while commercial and industrial lots surged by half to P10.4 billion.

“With signs of market headwinds clearing, coupled with our reinvention initiatives, we look forward to continue delivering high-quality products to our stakeholders,” ALI president and CEO Anna Ma. Margarita Bautista-Dy said in a statement.

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