Ayala Land extends Market! Market! lease: Ayala Land stock sits 36.95 percent below its high

Published on 10/05/2026 at 14:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net income fell 19.20 percent to PHP 11.46 billion. For Ayala Land stock, revenue was PHP 72.66 billion in the first half.

Ayala Land, PHY0488F1004, Illustration mit AI erstellt.

Ayala Land (ISIN PHY0488F1004) stood 36.95 percent below its 52-week high of PHP 24.30 on October 5, 2026, at a reported PHP 15.32 on the Philippine Stock Exchange. The company extended the Market! Market! lease for 12 years and seven months, but first-half profit declined 19.20 percent to PHP 11.46 billion, according to BusinessWorld on September 21, 2026.

Market! Market! lease adds visibility

Ayala Land signed the lease extension with the Bases Conversion and Development Authority on September 14, 2026. The agreement covers the Bonifacio Global City mall and includes a planned PHP 1.0 billion modernization program, according to BusinessWorld.

The lease removes a 2027 expiry risk for an established commercial asset, while the modernization plan could support longer-term mall traffic and rental income. The same source reported that the investment is small relative to Ayala Land's overall capital spending, limiting its near-term earnings effect.

First-half revenue contraction deepens

Real estate revenue fell 10.60 percent to PHP 72.66 billion in the first half of 2026 from PHP 81.32 billion a year earlier. Attributable net income declined from PHP 14.17 billion, while second-quarter revenue reached PHP 37.50 billion and net income came to PHP 6.10 billion, according to BusinessWorld.

Leasing and hospitality revenue rose 9.00 percent in the first half of 2026, including 4.00 percent growth in shopping-center revenue and 28.00 percent growth in hospitality revenue. That mix gives Ayala Land a recurring-income cushion, but the 19.20 percent profit decline shows that residential development remains the larger pressure point.

Stock remains below PHP 20

Ayala Land's market capitalization was PHP 219.5 billion on October 5, 2026, while its 52-week range was PHP 12.58 to PHP 24.30. The PHP 15.32 price was therefore PHP 8.98 below the yearly high, a gap of 36.95 percent.

Ayala Land lists its first-half 2026 financial and operating results from August 10, 2026, and its next earnings date is November 4, 2026, according to Investing.com.