AREIT Inc., the powerhouse real estate investment trust backed by Ayala Land Inc. (ALI), has just released its 2024 financial results, and the numbers are impressive! We’re talking a significant 49% year-on-year jump in net income, reaching a solid ₱7.4 billion (excluding net fair value change in investment properties).
But that’s not all. The company also reported total revenues of ₱10.3 billion and EBITDA of ₱7.5 billion, both showcasing a remarkable 44% and 49% year-on-year increase, respectively.
What’s driving this growth?
AREIT credits its strong performance to strategic acquisitions made in 2024, including key properties like Ayala Triangle Gardens Tower 2, Greenbelt 3 and 5, Holiday Inn Hotel & Suites Makati, Seda Ayala Center Cebu, and industrial land in Zambales. Plus, the full-year contributions of assets acquired in 2023 have also played a crucial role.

Shareholders Rejoice!
AREIT isn’t just focused on growth; they’re rewarding their shareholders. A cash dividend of ₱0.58 per outstanding common share for the fourth quarter of 2024 has been declared, payable on March 21, 2025, to shareholders on record as of March 5, 2025. This brings the total 2024 dividend per share to ₱2.28, a 6% increase from the previous year.
Ambitious Expansion Plans in VisMin
But the real excitement lies in AREIT’s future plans. The board has approved the acquisition of commercial properties in Cebu, Davao, and Cagayan de Oro from ALI and its subsidiaries. This will be achieved through a property-for-share swap transaction, with ALI and subsidiaries subscribing to 505.890 million primary AREIT common shares.
The properties included in this swap are impressive:
* Central Bloc One (Office)
* Central Bloc Two (Office)
* Ayala Malls Central Bloc
* Seda Hotel Central Bloc
* Ayala Malls Abreeza
* Abreeza Corporate Center (Office)
* Ayala Malls Centrio
* Centrio Corporate Center (Office)
This transaction, valued at ₱21 billion, will be submitted for shareholder approval at the Annual Stockholder’s Meeting on April 24, 2025, and subsequently to relevant regulatory bodies.
AUM Growth and Regional Dominance
This strategic move will significantly boost AREIT’s assets under management (AUM) to ₱138 billion. The addition of 306,000 square meters (sqm) of building gross leasable area (GLA) will bring AREIT’s total GLA to a massive 4.2 million sqm, consisting of 1.3 million sqm of building GLA and 2.9 million sqm of industrial land.
AREIT President and CEO Jose Eduardo A. Quimpo II emphasized that this acquisition aligns with their growth target of ₱15-20 billion in AUM per year. He also highlighted the strategic importance of deepening AREIT’s presence in the fast-growing regional cities of Visayas and Mindanao.
“The acquisition will be accretive to shareholders of AREIT in line with our commitment of delivering returns and long-term value,” he stated.
In essence, AREIT is not just celebrating a successful year; they’re laying the groundwork for even greater growth and shareholder value in the years to come. Keep an eye on this dynamic REIT!