AYALA LAND, INC. (ALI) has earmarked P323.36 million from the proceeds of a block sale of AREIT, Inc. shares to fund the expansion of its 364-unit Garden Court Residences in Taguig City.
In a stock exchange disclosure on Thursday, ALI said the funds were used between July and September for the premium mid-rise development under its Ayala Land Premier brand.
The 2-hectare project features five towers around a 6,000-square-meter (sq.m.) courtyard, offering units starting from 68 sq.m. to 261 sq.m., with prices starting at P25.8 million.
Garden Court Residences is designed with high ceilings, expansive windows, and balconies, and includes amenities comparable to garden lobbies, sky gardens, a sky gym, social hall and deck, and swimming pools. The project is accessible via the South Luzon Expressway (SLEX) and C-5 road.
As of end-September, ALI said P165.27 million from the online proceeds stays available for future projects.
In July, the corporate raised P489.36 million from a block sale of 12 million AREIT shares.
For the primary half of 2025, ALI posted an 8% increase in net income to P14.2 billion, while property development revenue rose 0.77% to P52.3 billion.
On Thursday, ALI shares closed flat at P23.10 each, while AREIT shares gained 1.83% to P44.50 apiece. — Beatriz Marie D. Cruz