Ayala Land Inc., positive about the improvement of its businesses

The Manila Times

Apr 28, 2022

EXCERPT


For its office segment, Dy said they have not seen any huge contraction or departure of their major tenants for both the business process outsourcing companies and traditional corporates and that the vacancies they have recorded were primarily from POGO (Philippine Offshore Gaming Operator) locators.


Dy said this accounted for less than 10 percent of their pre-pandemic leases in 2019.


"Moving forward for the year, we expect that our vacancy rates will be meaningfully reduced and therefore, our revenues for the office segment should increase in 2022 as compared to 2021," Dy remarked


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