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Manila Bulletin devider Business devider The Stock Market devider AREIT earnings climb as acquisitions drive revenue growth

AREIT earnings climb as acquisitions drive revenue growth

Published Nov 13, 2025 01:51 pm
Alberto M. de Larrazabal
Alberto M. de Larrazabal
Ayala Land Inc.’s flagship real estate investment trust reported a subtantial increase in profit for the first nine months of the year, driven by contributions from its strategic asset acquisitions over the past two years.
In a disclosure to the Philippine Stock Exchange, AREIT Inc. reported a 39 percent jump in net income, excluding the net fair value change in investment properties, to ₱7.0 billion in January to September from ₱5.04 billion in a year ago.
Total revenues climbed to ₱9.5 billion at end-September, while Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached ₱7 billion, representing year-on-year increases of 34 percent and 37 percent, respectively.
AREIT's performance was bolstered by contributions from its 2025 and 2024 acquisitions, alongside the stable operation of its existing portfolio. These additions expanded the company’s total gross leasable area (GLA) to 4.3 million square meters, which includes 1.4 million square meters of building GLA.
Assets Under Management (AUM) for AREIT rose to ₱138.9 billion, encompassing offices, retail, hotels, and industrial land.
At its board meeting on Thursday, Nov. 13, AREIT Board of Directors approved a cash dividend of ₱0.62 per outstanding common share for the third quarter of 2025. The dividend is payable on Dec. 12, 2025, to shareholders on record as of Nov. 26, 2025.
This payout is five percent higher than the prior quarter's ₱0.59 per share, bringing the total dividends for the first nine months of 2025 to ₱1.79 per share, a five percent increase from the corresponding period in 2024.
AREIT recently secured key approvals for expansion. On Sept. 25, 2025, the firm received approval from the Securities and Exchange Commission (SEC) for its ₱21 billion property-for-share swap with Ayala Land Inc. (ALI) and its subsidiaries, Accendo Commercial Corp. and Cagayan de Oro Gateway Corp.
The transaction involved the issuance of 505.89 million AREIT shares in exchange for eight commercial assets in Visayas and Mindanao, which began contributing to earnings on July 1, 2025.
In a separate move on Oct. 28, 2025, AREIT approved a property-for-share swap with ALI and its wholly-owned subsidiary, Summerhill Commercial Ventures Corp., for Ayala Center Cebu and Ayala Malls Feliz.
This transaction is valued at ₱19.5 billion in exchange for 441.13 million AREIT shares. It is pending approval from AREIT shareholders at a Special Stockholders’ Meeting scheduled for Dec. 11, 2025, and subsequent regulatory clearances.

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AREIT Inc. Ayala Land Inc.
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