'Ayala Land sees tempered residential demand in the next 12 months'
ALI president and chief executive Bernard Vincent Dy said in a recent analysts’ briefing he expected tempered demand on residential projects in the next six to 12 months, or until the global uncertainties were resolved.
ALI said most of the cancellations would be in the middle-income market and would involve vertical developments.“Back out rates, in general, have been manageable so far. What I would expect as economy gets better, then I hope that situation holds,” Dy said.
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