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Manila Bulletin devider Business devider The Stock Market devider CREIT posts steady first three-months performance backed by guaranteed leases

CREIT posts steady first three-months performance backed by guaranteed leases

Published May 15, 2025 11:26 am
Citicore Energy REIT Corporation, the country’s first and largest renewable energy REIT, posted stable attributable profit of ₱358 million and revenues of ₱472 million, in line with the same period last year.
“The stability of the Company’s performance is primarily attributed to a strong, guaranteed base lease of ₱419 million, which grew two percent from the same period last year,” the company said in a disclosure to the Philippine Stock Exchange.
CREIT President and CEO Oliver Tan said “CREIT’s stable revenue emphasizes our strengths as a REIT company, operating in an essential energy sector, shielded from market changes and typical cyclicality experienced by traditional REITs.”
“With three years of consistent revenues and dividends, CREIT's solid ground is the foundation of our future acquisition strategies,” he added.
CREIT’s 14 assets, totaling a gross leasable space of 7.1 million square meters, are leased out to solar operators and developers ensuring 100 percent occupancy rates for the entire life of the long-term lease agreements.
Last May 9, 2025, CREIT declared its first quarter 2025 dividends of ₱0.049 per share – consistent with its dividend payout at 106 percent of its distributable income, above the minimum requirement of 90 percent.
CREIT sponsor, Citicore Renewable Energy Corporation, is also set to complete and energize its first one gigawatt of renewable energy development in 2025. CREC projects are in Batangas, Pampanga, Pangasinan, Negros Occidental - most of which are situated in CREIT land assets.
“CREIT is poised to mirror CREC’s growth trajectory once its sponsor's projects come online, providing CREIT with a growth roadmap for a value-accretive assets acquisition to further solidify our green real estate portfolio,” Tan said.
CREIT is the Philippines' largest renewable energy landlord with 7.1 million square meters of total landholdings and operating in a crisis-proof and essential renewable energy industry.

Related Tags

Citicore Energy REIT Corporation Citicore Renewable Energy Corporation Oliver Y. Tan
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