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Manila Bulletin devider Business devider The Stock Market devider AREIT profit jumps 25% on portfolio expansion in regional hubs

AREIT profit jumps 25% on portfolio expansion in regional hubs

Published May 13, 2026 05:22 pm
Alberto M. de Larrazabal
Alberto M. de Larrazabal
AREIT Inc. reported that its first-quarter bottom line surge as its aggressive expansion into regional markets outside Metro Manila began to pay off.
The real estate investment trust backed by property heavyweight Ayala Land Inc. reported a 25 percent year-on-year increase in net income to ₱2.6 billion for the three months ending March.
The figure excludes the net fair value change in investment properties, a metric analysts use to gauge the core operational health of the trust. The growth was largely underpinned by the widening of its asset base over the previous year.
Total revenues climbed 21 percent to ₱3.5 billion during the period, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 23 percent to ₱2.6 billion. 
The growth in the first quarter was driven by contributions from eight prime commercial properties integrated into the portfolio in 2025. These assets, located in the high-growth hubs of Cebu, Davao, and Cagayan de Oro, began contributing to the company's top line in July of last year.
“In periods of market uncertainty, we take pride in AREIT’s ability to deliver stable income streams from its high-quality assets,” Alberto M. de Larrazabal, AREIT president and chief executive officer, said.
He added that the company remains positioned for further growth as it prepares for its next round of acquisitions.
Following the robust quarterly performance, AREIT’s Board of Directors approved a cash dividend of ₱0.62 per outstanding common share. The payout is scheduled for June 11, 2026, to shareholders of record as of May 27, 2026.
The company is currently awaiting regulatory clearance for a massive ₱19.5 billion property-for-share swap with its parent, Ayala Land, and subsidiary Summerhill Commercial Ventures Corp. The deal, which received shareholder approval in December 2025, involves the acquisition of Ayala Center Cebu and Ayala Malls Feliz.
Once the transaction is finalized, AREIT’s total assets under management are projected to reach approximately ₱159 billion, cementing its position as the largest and most diversified REIT in the Philippines. (James A. Loyola)

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AREIT Inc. Ayala Land Inc. Alberto M. de Larrazabal
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