AREIT Inc., the real estate investment trust of Ayala Land Inc. (ALI), saw net income surge 28 percent to P9.4 billion on 2025 from P7.4 billion a year earlier, driven by contributions from newly acquired assets and sustained high occupancy across its portfolio.
In a statement on Friday, AREIT said total revenues reached P13.0 billion, up 26 percent year on year, while earnings before interest, taxes, depreciation and amortization rose 27 percent to P9.5 billion.
The company attributed the strong performance to income contributions from acquisitions completed during the year, including 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, and Ayala Malls Centrio and Centrio Corporate Center in Cagayan de Oro.
These were complemented by full-year contributions from assets acquired in 2024 and stable operations of its existing properties.
AREIT ended 2025 with a total gross leasable area of 4.3 million square meters (sqm), including 1.4 million sqm of building GLA, and maintained an overall occupancy rate of 99 percent.
Assets under management grew to P139.3 billion, covering a diversified portfolio of offices, retail spaces, hotels and industrial land.
As part of its expansion strategy, the company secured stockholders’ approval on Dec. 11, 2025, for a property-for-share swap transaction with sponsor Ayala Land and its wholly owned subsidiary, Summerhill Commercial Ventures Corp.
The asset swap involves Ayala Center Cebu and Ayala Malls Feliz, valued at P19.5 billion, in exchange for 441.13 million AREIT shares. Once completed, the infusion is expected to raise AREIT’s assets under management to P159 billion.
In a separate statement, the company announced board approval of a cash dividend of P0.62 per outstanding common share for the fourth quarter of 2025. The dividends will be payable on March 20, 2026 to shareholders on record as of March 5, 2026.
This brought total dividends for 2025 to P2.41 per share, up 5.7 percent from P2.28 per share in 2024, for an aggregate cash dividend payout of P8.36 billion, a 31-percent increase from P6.38 billion 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,” AREIT President and CEO Alberto de Larrazabal said.
“As we continue to scale, we remain focused on delivering consistent returns to shareholders while maintaining portfolio quality and financial resilience,” he added.
As of end-2025, 24 of AREIT’s commercial office buildings, comprising over 946,000 sqm of gross floor area, had received EDGE Zero Carbon certification.
The milestone was said to form part of Ayala Land’s broader sustainability efforts, with the parent firm itself having achieved EDGE Zero Carbon certification for more than 1.5 million sqm of office space as of end-2025.
AREIT shares slipped P0.20, or 0.46 percent, to close at P43.50 each on Friday.
