Citicore Energy REIT Corp., the country’s first and largest renewable energy real estate investment trust, announced its financial results for the first quarter of 2026, alongside a major strategic growth initiative that will significantly expand its green asset portfolio.
For the first quarter of 2026, CREIT posted robust revenues of Php 458 million, highlighting the exceptional stability of its long-term renewable energy asset portfolio. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at Php 446 million, while net income reached Php 342 million.
The Company maintained a stellar 100% year-round occupancy rate across its assets with a weighted average lease expiry (WALE) of 19.19 years, guaranteeing long-term income visibility for investors.
Underscoring its commitment to delivering superior shareholder value, CREIT’s Board of Directors declared first-quarter cash dividends of Php 0.049 per share on May 15, 2026. This translates to an annualized dividend yield of 6% based on the March 31, 2026 closing price of Php 3.40 per share. The payout represents 106% of the Company’s distributable income—significantly exceeding the regulatory requirement of 90%. Shareholders on record as of June 11, 2026, will receive their dividend payments on July 8, 2026.
“CREIT continues to demonstrate what a stable, yet growth-oriented REIT looks like,” said Oliver Tan, President and CEO of CREIT. “Our revenues are highly predictable, backed by fixed long-term leases tied to our green asset portfolio. Because our tenants are in the essential business of renewable energy power generation, our operations remain strongly insulated from geopolitical volatility.”
To accelerate its long-term growth roadmap, CREIT’s Board also approved a proposed asset-for-share swap transaction with its Sponsor, Citicore Renewable Energy Corporation (CREC), and its subsidiaries.
The transaction will infuse approximately 1.7 million square meters of land and 860MWp of stabilized, income-generating solar assets into CREIT. These assets are strategically located across key growth corridors, including Pangasinan, Pampanga, Batangas, Quezon, and Negros Occidental.
This strategic expansion will increase CREIT’s current leasable land assets by approximately 20%. Upon completion, CREIT’s total gross leasable area will expand to an industry-leading 8.8 million square meters, further solidifying its dominant position as the largest REIT in the Philippines.
To safeguard shareholder interests, all assets have undergone independent valuations by reputable, accredited third-party providers, ensuring that the transaction is executed at fair market value and on an arm’s-length basis.
“This transaction reflects how CREIT’s platform is built for long-term growth, allowing us to acquire stabilized, income-generating assets while deepening strategic alignment with our Sponsor,” Tan added. “It reinforces CREIT’s ability to expand alongside CREC in a disciplined and sustainable manner, creating long-lasting value for shareholders.”
The transaction is targeted for execution within the coming months of 2026, subject to customary closing conditions, finalization of terms, and relevant regulatory approvals from the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
CREIT is uniquely positioned to benefit from the aggressive expansion of its Sponsor. CREC is on track to grow its renewable energy development roadmap to approximately 3.4 gigawatts (GW) by the end of 2026, progressing steadily toward its ultimate target of “5 gigawatts in 5 years.” CREC’s rapidly expanding pipeline ensures a continuous, reliable stream of potential asset acquisitions and rising lease revenues for CREIT in the years to come.
