Ayala Land pauses Laurean unit sales, citing global conditions
AYALA LAND, Inc. (ALI) said it has paused sales of its Laurean Residences project, citing evolving global conditions, including the situation in the Middle East, which it said are affecting costs and delivery timelines.
“In light of the evolving global conditions, including the situation in the Middle East and its broader impact, we have made the prudent decision to strategically place sales of Laurean Residences on pause, as the current environment presents increasing pressures on costs and reduced predictability in delivery timelines, affecting our ability to execute with the level of certainty we commit to our customers,” the company said in a statement on Monday.
ALI said it has historically managed changing market conditions with a focus on long-term value and disciplined capital management, adding that the decision aligns with this approach.
The company added that it is taking a more selective approach to capital allocation by focusing on projects with clearer execution timelines while strengthening its portfolio, particularly its recurring income base.
“We are reaching out to buyers directly to discuss next steps and the range of options available to them, with the care and attention they expect from Ayala Land,” ALI said.
“We deeply value the trust our buyers place in Ayala Land, and we remain committed to delivering high-quality projects with the care and discipline that have always defined our company,” it also said.
In February, Ayala Land Premier, the company’s luxury brand, began construction of Laurean Residences, a high-end residential tower in Makati.
The project will offer unit types ranging from suites to four-bedroom units and targets professionals and multi-generational households seeking long-term homes in central Makati. Since its launch last year, it has recorded about P10.4 billion in sales.
Laurean Residences is the flagship residential tower within Dela Rosa Gardens, a 1.3-hectare mixed-use development along Paseo de Roxas and Dela Rosa Street, near Ayala Triangle Gardens, Greenbelt and One Ayala.
At the local bourse on Monday, ALI shares fell by 1.4% to P16.96 each. — Alexandria Grace C. Magno
