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Manila Bulletin devider Business devider The Stock Market devider AREIT earnings hit ₱9.4 billion as property business expands

AREIT earnings hit ₱9.4 billion as property business expands

Published Feb 20, 2026 09:48 am
Alberto M. de Larrazabal
Alberto M. de Larrazabal
AREIT Inc., the real estate investment trust backed by property giant Ayala Land Inc., posted a 28 percent increase in full-year net income as a series of acquisitions bolstered its portfolio.
Based on the firm’s disclosure to the Philippine Stock Exchange, AREIT’s net income, excluding fair value changes in investment properties, rose to ₱9.4 billion in 2025 from ₱7.4 billion a year earlier.
Total revenues climbed 26 percent to ₱13.0 billion, while earnings before interest, taxes, depreciation, and amortization reached ₱9.5 billion, representing a 27 percent improvement over the previous period.
AREIT’s performance was primarily fueled by new income streams from assets in key regional hubs, including the Central Bloc complex in Cebu, which comprises two corporate centers, a mall, and a Seda hotel. Other contributors included retail and office developments in Davao and Cagayan de Oro, alongside full-year earnings from properties integrated into the portfolio in 2024.
“AREIT’s performance in 2025 reflects the strength and quality of our portfolio and our ability to execute growth in a disciplined manner,” President and Chief Executive Officer Alberto M. de Larrazabal said in the statement. He added that the firm remains focused on delivering consistent returns while maintaining financial resilience as it continues to scale.
Meanwhile, the company's board approved a fourth-quarter cash dividend of ₱0.62 per share, payable on March 20 to shareholders of record as of March 5. This brings the total payout for the 2025 fiscal year to ₱2.41 per share, a 5.7 percent increase from the ₱2.28 distributed in 2024.
In aggregate, AREIT will have returned ₱8.36 billion to investors for the year, up 31% from the previous year’s total distribution of ₱6.38 billion.
AREIT is moving to further enlarge its footprint following stockholder approval in December for a ₱19.5 billion property-for-share swap with Ayala Land and its subsidiary, Summerhill Commercial Ventures Corp. The transaction involves the infusion of Ayala Center Cebu and Ayala Malls Feliz in exchange for approximately 441.1 million AREIT shares. Once the deal is completed, the company’s assets under management are projected to reach ₱159 billion, up from the ₱139.3 billion reported at the end of 2025.
The trust ended the year with 4.3 million square meters of total gross leasable area and maintained an occupancy rate of 99 percent.
On the sustainability front, 24 of AREIT’s commercial office buildings have received EDGE Zero Carbon certification. This aligns with a broader push by its parent company, Ayala Land, which now manages the world’s largest portfolio of EDGE Zero Carbon-certified office space, totaling more than 1.5 million square meters.

Related Tags

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