Ayala Land Inc. (ALI) said Thursday that it has raised approximately P489 million from a block sale of 12 million common shares in Areit Inc., its real estate investment trust (REIT), to institutional investors. The shares were priced at P40.78 apiece, representing a slight discount from Areit’s last traded price of P41.50.
The transaction, which is exempt from registration under the Securities Regulation Code, will be settled on 7 July 2025, ALI said. It will submit a reinvestment plan detailing how the proceeds will be used.
“This sale supports our capital recycling strategy and reinforces our long-term commitment to growing Areit’s portfolio,” ALI said in a statement.
Areit has shown strong financial performance, posting a 43 percent jump in net income to P2.1 billion in the first quarter, on the back of a 37 percent revenue increase to P2.9 billion. Its properties posted 99 percent occupancy during the period, fueled by asset infusions from ALI’s premium commercial holdings, including Ayala Triangle Gardens Tower 2, Greenbelt Malls, Holiday Inn and Suites Makati, and other strategic assets.
President and CEO Jose Eduardo A. Quimpo II said Areit’s assets under management are on track to quintuple to P138 billion since its IPO, putting the REIT in line with major regional peers and moving closer to its US$3 billion AUM target.
