AREIT Inc., the real estate investment trust (REIT) of Ayala Land Inc., reported a 43 percent year-on-year increase in net income for the first quarter of 2025, reaching ₱2.1 billion from ₱1.5 billion, buoyed by strong asset performance and expanded property infusions.
Revenue for the quarter rose 37 percent to ₱2.9 billion from ₱2.11 billion in the same period last year, driven by contributions from newly infused assets including Ayala Triangle Gardens Tower 2, Greenbelt 3 and 5, Holiday Inn and Suites Makati, Seda Ayala Center Cebu, and industrial land in Zambales. These assets began contributing in July 2024 and bolstered AREIT’s first-quarter performance, the company told the Philippine Stock Exchange.
Occupancy across AREIT’s portfolio stood at a near-full 99 percent at the end of the quarter, underscoring robust demand across its commercial and office properties.
President and CEO Jose Eduardo A. Quimpo II said the company remains on track to quintuple its assets under management (AUM) to ₱138 billion from its IPO level. “This keeps us on track to reach our goal of reaching USD3 billion within the coming years, scaling to levels comparable with major regional REITs,” Quimpo said.
In April, shareholders approved a major property-for-share swap with Ayala Land Inc. and its subsidiaries—Accendo Commercial Corp., Cagayan de Oro Gateway Corp., and Central Bloc Hotel Ventures Inc.—valued at ₱21 billion. The transaction includes eight prime assets across Visayas and Mindanao, such as:
- Central Bloc Corporate Center 1 and 2, Ayala Malls Central Bloc, and Seda Hotel Central Bloc in Cebu
- Ayala Malls Abreeza and Abreeza Corporate Center in Davao
- Ayala Malls Centrio and Centrio Corporate Center in Cagayan de Oro
The infusion will significantly scale AREIT’s national footprint and push its AUM to ₱138 billion, a milestone that positions the REIT for further regional competitiveness.
In line with its earnings performance, AREIT declared a cash dividend of ₱0.58 per outstanding common share for Q1 2025, payable on June 11 to shareholders on record as of May 27.
The continued growth affirms AREIT’s position as the country’s leading commercial REIT and a key vehicle for Ayala Land’s long-term capital recycling and real estate monetization strategy.
