AREIT delivers strong profit growth in 2025

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February 21, 2026 | 12:00am

MANILA, Philippines — AREIT Inc., the listed real estate investment trust of the Ayala Group, delivered strong earnings growth in 2025, driven by income contributions from its recent acquisitions.

AREIT reported a net income, excluding the net fair value change in investment properties, of P9.4 billion last year, 28 percent higher than a year ago, while revenues expanded by 26 percent to P13 billion.

“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.

The company attributed its positive performance to income contributions from its 2025 acquisitions, namely 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. 

The company said these were complemented by full-year contributions from assets acquired in 2024 and the stable operations of its existing portfolio.

AREIT ended 2025 with a total gross leasable area of 4.3 million square meters, including 1.4 million square meters of building GLA and an overall occupancy rate of 99 percent. 

Its assets under management grew to P139.3 billion, spanning a diversified portfolio of offices, retail, hotels and industrial land.

“As we continue to scale, we remain focused on delivering consistent returns to shareholders while maintaining portfolio quality and financial resilience,” De Larrazabal said.

To accelerate portfolio growth, AREIT secured stockholder approval in December last year for a property-for-share swap transaction with its sponsor, Ayala Land Inc., and Ayala Land’s wholly owned subsidiary, Summerhill Commercial Ventures Corp., involving Ayala Center Cebu and Ayala Malls Feliz, valued at P19.5 billion in exchange for 441.13 million AREIT shares. 

The planned infusion is expected to increase AREIT’s assets under management to P159 billion upon completion.

AREIT’s board of directors approved yesterday a cash dividend of P0.62 per outstanding common share for the fourth quarter of 2025, payable on March 20, 2026, to shareholders on record as of March 5, 2026.

This brings AREIT’s total dividend per share to P2.41 for 2025, up by 5.7 percent from P2.28 in 2024. 

Overall, AREIT will have distributed P8.36 billion in cash dividends for 2025, 31 percent more than the P6.38 billion distributed in 2024.