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Manila Bulletin devider Business devider The Stock Market devider AREIT assets to reach $3 billion, at par with regional REITs

AREIT assets to reach $3 billion, at par with regional REITs

Published May 13, 2025 03:41 pm
AREIT Inc., Ayala Land’s real estate investment trust, aims to grow its Assets Under Management (AUM) to $3 billion soon after a recent infusion from its parent company and sponsor will raise the value of its portfolio to ₱138 billion.
“We will see our AUM quintuple to ₱138 billion from IPO (initial public offering), keeping us on track to reach our goal of reaching $3 billion within the coming years, scaling to levels comparable with major regional REITs,” said AREIT President and CEO Jose Eduardo A. Quimpo II.
Aligned with its strategy to grow Assets Under Management (AUM), AREIT secured stockholders’ approval last April 24, 2025 for the property-for-share swap transaction with ALI and its subsidiaries, Accendo Commercial Corp., Cagayan de Oro Gateway Corp., and Central Bloc Hotel Ventures, Inc.
The infusion involves eight prime commercial assets in Visayas and Mindanao, valued at P21.0 billion, namely Central Bloc Corporate Center 1 and 2, Ayala Malls Central Bloc, and Seda Hotel Central Bloc in Cebu; Ayala Malls Abreeza and Abreeza Corporate Center in Davao; and Ayala Malls Centrio and Centrio Corporate Center in Cagayan de Oro.
AREIT will execute the Deed of Exchange with ALI and its subsidiaries and apply for its approval with the Securities and Exchange Commission (SEC). The new shares will be issued, and income from the assets shall accrue to AREIT upon SEC approval.
Meanwhile, AREIT reported a 43 percent jump in net income to ₱2.1 billion, excluding the net fair value change in investment properties, in the first quarter of 2025.
The firm aid it registered total revenues of ₱2.9 billion and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of ₱2.1 billion, a 38 percent and 42 percent increase from the year prior, respectively.
AREIT’s properties recorded a 99 percent overall occupancy at the end of the quarter.
Driving AREIT’s first quarter performance were the 2024 infused assets which includes Ayala Triangle Gardens Tower 2 office building, Greenbelt 3 and 5 mall, Holiday Inn & Suites Makati, Seda Ayala Center Cebu, and industrial land in Zambales, whose contributions started in July 2024.
AREIT also declared cash dividends of P0.58 per outstanding common share for the first quarter of 2025. The dividends are payable on June 11, 2025 to shareholders on record as of May 27, 2025.

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Jose Eduardo A. Quimpo II AREIT Inc. Ayala Land Inc.
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