• Net income rises 28 percent to P9.4 billion in 2025
• Revenues climb 26 percent to P13 billion
• Assets under management expand to P139.3 billion
• Total dividends hit P2.41 per share, up 5.7 percent
AREIT Inc., the real estate investment trust arm of Ayala Land, closed 2025 with P9.4 billion in net income, up 28 percent year on year, as fresh mall, office and hotel assets lifted rental streams and pushed assets under management near P140 billion.
Earnings before interest, taxes, depreciation, and amortization increased 27 percent to P9.5 billion, tracking the 26 percent rise in revenues to P13 billion.
Net income excluded fair value changes in investment properties, highlighting recurring earnings strength.
“AREIT’s performance in 2025 reflects the strength and quality of our portfolio and our ability to execute growth in a disciplined manner,” said AREIT president and CEO Alberto M. de Larrazabal.
“As we continue to scale, we remain focused on delivering consistent returns to shareholders while maintaining portfolio quality and financial resilience," he added.
Growth was driven by 2025 acquisitions in Cebu, Davao and Cagayan de Oro, alongside full-year contributions from 2024 assets and steady performance of its existing portfolio. The company ended the year with 4.3 million square meters of gross leasable area and a 99 percent occupancy rate.
Assets under management rose to P139.3 billion across offices, retail, hotels and industrial land.
In December, shareholders approved a property-for-share swap with sponsor Ayala Land, Inc. and its subsidiary Summerhill Commercial Ventures Corp., covering Ayala Center Cebu and Ayala Malls Feliz worth P19.5 billion. The infusion is expected to lift assets under management to P159 billion once completed.
The board declared a fourth quarter dividend of P0.62 per share, bringing total 2025 payouts to P2.41 per share. Cash dividends reached P8.36 billion, up 31 percent year on year.
—Edited by Miguel R. Camus
