Location: http://www.sunstar.com.ph/static/ceb/2004/12/15/bus/sec.names.top.real.estate.firms.html

SEC NAMES TOP REAL ESTATE FIRMS

Ayala Land Inc. was the top company in the Philippines in terms of real estate activities last year.

According to the 2004 edition of the Philippines 5000, the listing of top 5,000 corporations in the country by the Securities and Exchange Commission, Ayala Land made PhP 8.78 billion in sales last year, relegating rival SM Prime Holdings Inc. to the number two spot with its PhP 8.14 billion in sales.

However, SM Prime Holdings Incorporated had the last laugh because its PhP 4.18 billion in profit was significantly larger than ALI’s PhP 2.71 billion in the same period.

The Securities and Exchange Commission listed the other real estate firms in the top 10 as Golden Arches Development Corporation with PhP 5.80 billion in sales; Megaworld Corporation with PhP 2.84 billion; Rockwell Land Corporation (PhP 2.33 billion); Laguna Properties Holdings Incorporated (PhP 1.98 billion), First Asia Realty Development Corporation (PhP 1.74 billion), Empire East Land Holdings Incorporated (PhP 1.68 billion), Filinvest Land Incorporated (PhP 1.61 billion) and Mermac Incorporated (PhP 1.59 billion).

Both Ayala Land Incorporated and Laguna Properties Holdings Incorporated are part of the Ayala group of companies.

Golden Arches Development Corporation is the master franchisee of McDonald’s in the Philippines.

Aboitiz Construction Group Inc. made it to the 11th spot with P1.34 billion in sales. Cebu Southland Commercial Complex Inc. was in 20th place with P691.29 million in sales.

Profits

In terms of profitability, the most profitable after SM Prime and Ayala Land were Mermac Incorporated with PhP 1.57 billion in profit and Philippine Hydropower Corporation (PhP 739 million), although the latter ranked only 19th in sales.

Golden Arches suffered PhP 23.96 million in losses.

In the construction industry, leading in sales was Subic Bay Fuels Co. Inc. with P11.62 billion.

The rest of those in the top 10 were Hanjin Heavy Industries & Construction Co. Ltd. with P2.85 billion in sales, Makati Development Corp. (P2.59 billion), Alstom Philippines Inc. (P2.50 billion), Luzon Hydro Corp. (P2.38 billion), EEI Corp. (P2.28 billion), D.M. Consunji Inc. (P1.92 billion), Impsa Construction Corp. (P1.67 billion), Leighton Contractors (Phils.) Inc. (P1.67 billion) and F.F. Cruz & Co. Inc. (P1.45 billion).

The most profitable among these firms was Aboitiz subsidiary Luzon Hydro Corp., which made P1.46 billion in profits.

Author: CTL

Date: December 15, 2004 issue