Ayala Land Inc. has suspended sales of a luxury residential tower as escalating costs driven by the ongoing Iran war impact the real estate market in the Philippines. This decision comes amid rising expenses that have made it challenging to maintain pricing strategies.
Despite these setbacks, Ayala Corp remains optimistic about growth, with plans to proceed with a record expansion of its mall portfolio this year. The company is navigating global economic headwinds while focusing on long-term development strategies.