Property giant Ayala Land Inc. is boosting its capital expenditures in the second half of the year on the back of the strong recovery seen in sales across the board in the second quarter of 2009.

In an interview with reporters, ALI president Antonino Aquino said that the firm may compensate for its reduced spending in the first quarter of the year as it controlled its inventory amid uncertainties in the market.

Aquino said that ALI spent less than half of its P17 billion capital expenditure budget for the year during the first semester and the firm is expected to spend more in the second half. He added that they still expect to spend P17 billion this year.

“This is presuming that all factors such as the global economy and interest rates remain stable and there are no external or internal shocks that may affect consumer sentiment,” Aquino said. He said the recovery in sales was more significant in the high-end market, the bailiwick of ALI now being marketed through Ayala Land Premier, which had seen monthly sales breach P1 billion in the last four months.