AREIT, Inc., the Philippines’ pioneering Real Estate Investment Trust, announced robust financial and operational performance for the first quarter of 2025, fueled by high portfolio occupancy and the full contribution of strategic asset infusions in 2024.
AREIT posted total revenues of ₱2.9 billion, up 38% year-on-year, and EBITDA of ₱2.1 billion, a 42% increase from the same period last year. Net income, excluding the net fair value change in investment properties, surged 43% to ₱2.1 billion.
The company reported a 99% overall occupancy rate across its property portfolio, underscoring the strength of its asset base and tenant demand. This performance was primarily driven by the newly infused 2024 assets, which began contributing in July last year. These include Ayala Triangle Gardens Tower 2, Greenbelt 3 and 5 malls, Holiday Inn & Suites Makati, Seda Ayala Center Cebu, and industrial land in Zambales.
To reward its shareholders, AREIT declared cash dividends of ₱0.58 per outstanding common share for the first quarter of 2025. The dividends are payable on June 11, 2025, to shareholders on record as of May 27, 2025.
Aligned with its long-term strategy to grow its Assets Under Management (AUM), AREIT also received stockholders’ approval on April 24, 2025, for a ₱21.0 billion property-for-share swap transaction with sponsor Ayala Land, Inc. (ALI) and its subsidiaries. The transaction includes eight prime commercial properties in the Visayas and Mindanao regions:
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Central Bloc Corporate Center 1 and 2, Ayala Malls Central Bloc, and Seda Hotel Central Bloc in Cebu
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Ayala Malls Abreeza and Abreeza Corporate Center in Davao
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Ayala Malls Centrio and Centrio Corporate Center in Cagayan de Oro
Following this infusion, AREIT’s AUM will rise to ₱138 billion, marking a fivefold growth since its IPO.
“We will see our AUM quintuple to ₱138 billion from IPO, keeping us on track to reach our goal of reaching US$3 billion within the coming years, scaling to levels comparable with major regional REITs,” said Jose Eduardo A. Quimpo II, President and CEO of AREIT.
AREIT will soon execute the Deed of Exchange with ALI and its subsidiaries and apply for Securities and Exchange Commission (SEC) approval. New shares will be issued, and income from the infused properties will begin accruing to AREIT upon regulatory clearance.
With its sustained growth momentum and strategic asset expansion, AREIT continues to set the benchmark for REITs in the region, reaffirming its commitment to deliver consistent value and returns to its shareholders.
