Ayala Land Inc., the country’s largest property developer, expects sustained recovery across its business segments this year as it moves past a sector-wide slump triggered by the exodus of offshore gaming operators and sluggish residential demand.

Anna Ma. Margarita Bautista-Dy, Ayala Land chief executive officer, said the company remains “bullish” on its growth prospects, signaling shift toward more aggressive expansion following a period of cautious post-pandemic rebuilding.

Amid this optimism, the company continues to explore opportunities to expand its land bank, particularly in prime locations where supply is tight and where it already has a substantial presence.

Ayala Land is also zeroing in on high-value government assets located adjacent to its existing hubs.

Jose Eduardo A. Quimpo II, Ayala Land chief financial officer, said the company is evaluating two of three major properties slated for auction by the Privatization and Management Office.

The targets include a 24-hectare remaining portion of the Food Terminal Inc. complex in Taguig, valued at approximately ₱40 billion, and The Atrium in the Makati central business district, priced at about ₱449 million.

The interest in the FTI parcel aligns with Ayala Land’s ongoing development of Arca South, a 74-hectare integrated estate on the former government site that now features residential towers, office blocks, and a hospital. The company plans to open a mall within the estate on February 13.

Similarly, The Atrium—which comprises 24 condominium units and 21 parking slots—is strategically positioned near the Ayala Triangle Gardens.

Quimpo described the Ayala Triangle as the “center of our universe,” noting that the company’s proximity to the asset makes it natural fit for their portfolio. However, the firm has declined interest in the Mile Long complex, citing its less favorable location.

On the financing front, Ayala Land intends to deepen its reliance on the ESG market. The company has already raised $1 billion through sustainability-linked bonds, a format Quimpo said has become central to their capital-raising strategy. While the developer has approximately ₱20 billion in maturities due this year, Quimpo said there is no immediate pressure to tap the markets following a recent green bond issuance.

The company plans to time its return to the capital markets based on specific refinancing needs. According to Quimpo, sustainable finance has moved beyond a corporate social responsibility initiative to become a core business requirement that offers tangible financial benefits and meets the evolving demands of institutional investors like the International Finance Corp.