Net income reached P2.6 billion in the first quarter, while revenues rose 21 percent to P3.5 billion and operating cash earnings climbed 23 percent to P2.6 billion.
Stability drives growth
Growth was driven mainly by eight commercial properties infused in 2025 across Cebu, Davao and Cagayan de Oro, alongside the stable performance of AREIT’s existing office and mall portfolio.
“Especially in periods of market uncertainty, we take pride in AREIT’s ability to deliver stable income streams from its high-quality assets,” AREIT president and CEO Alberto Larrazabal said. “In addition, we are poised to continue to deliver growth as we work on our next assets for acquisition.”
Expansion pipeline continues
AREIT’s board also declared cash dividends of P0.62 per share payable on June 11 to shareholders on record as of May 27.
The company is also awaiting regulatory approval for its planned P19.5-billion property-for-share swap involving Ayala Center Cebu and Ayala Malls Feliz with sponsor Ayala Land, Inc..
Once completed, the transaction is expected to expand AREIT’s assets under management to around P159 billion, further strengthening its position as one of the country’s largest REIT platforms.
—Edited by Miguel R. Camus
