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Manila Bulletin devider Business devider The Stock Market devider SEC approves ALI, AREIT's ₱21-billion share-for-property swap

SEC approves ALI, AREIT's ₱21-billion share-for-property swap

Published Sep 26, 2025 02:20 pm
The Securities and Exchange Commission (SEC) has approved the infusion by Ayala Land Inc. (ALI) of ₱21-billion worth of assets into AREIT, its real estate investment trust (REIT), in exchange for a total of 505.89 million AREIT shares.
The assets will be swapped by ALI together with its subsidiaries Accendo Commercial Corp. (Accendo), Cagayan de Oro Gateway Corp. (CDOGC), and Central Bloc Hotel Ventures Inc.
ALI and its subsidiaries will pay for the new AREIT shares by swapping these with eight commercial properties, whose value has been validated by a third-party fairness opinion.
These properties are: 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.
Accendo is a joint venture (JV) among ALI, Damosa Land Inc., Anflo Management and Investment Corp., and Pioneer Trading & Supply Co. Inc., organized primarily to engage in the business of a mall, office, hotel, residential buildings, and other allied businesses.
It is the owner and operator of Abreeza Mall and BPO and manages Abreeza properties and other Ayala developments in Davao City. Ayala Malls Abreeza is part of the 10-hectare (ha) mixed-use development that also includes Abreeza Corporate Center, Seda Abreeza, and residential developments.
CDOGC is a JV among ALI, Mindanao Motors Corp., and Anflo Management and Investment, organized primarily to engage in the business of a real estate, owning and operating a mall, office, hotel, residential buildings, and other allied businesses.
It is the owner and operator of Ayala Malls Centrio and Centrio BPO. Centrio is a 3.7-ha mixed-use, master-planned community consisting of Centrio Mall, an urban lifestyle hotel, residential condominiums, and an office development.
On the other hand, Central Bloc Hotel Ventures is the corporate name of the 214-room Seda Hotel in Central Bloc, a two-ha integrated development at the 24-ha Cebu IT Park.
AREIT aims to grow its assets under management (AUM) to $3 billion soon after the recent infusion raised 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,” the firm said.
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