AREIT H1 2025 income up 45% to P4.3B; declares dividends at P0.59/share from 2Q25 operations

AREIT, Inc. (AREIT) posted total revenues of P5.9 billion and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of P4.4 billion, 40% and 44% higher year-on-year, respectively. Net income excluding the net fair value change in investment properties registered at P4.3 billion, a 45% increase versus the year prior. AREIT’s properties recorded a 99% overall occupancy for the first half of the year.

Driving AREIT’s first half performance were the 2024 infused assets which includes Ayala Triangle Gardens Tower 2 office building, Greenbelt 3 and 5 mall, Holiday Inn & Suites Makati, Seda Ayala Center Cebu, and industrial land in Zambales, whose contributions started in July 2024.

AREIT also declared cash dividends of P0.59 per outstanding common share for the second quarter of 2025. The dividends are payable on September 12, 2025 to shareholders on record as of August 29, 2025. This declaration brings the total dividends to P1.17/share for the first half of 2025, 4% higher year-on-year.

At its meeting held today, AREIT’s Board of Directors elected Mr. Alberto M. de Larrazabal as Director to serve the unexpired term of Mr. Augusto D. Bengzon, who has stepped down from the Board, and as President and Chief Executive Officer for the unexpired term of Mr. Jose Eduardo A. Quimpo II, who will remain as a member of the Board, effective August 13, 2025.

Mr. de Larrazabal is a Senior Managing Director and Chief Finance Officer of Ayala Corporation (AC) since April 23, 2021. He also serves on the boards of other publicly listed companies including Integrated Micro-Electronics, Inc. (IMI), ENEX Energy Corp. (ENEX), and Yoma Strategic Holdings Ltd. He has over three decades of extensive experience as senior executive in Finance, Business Development, Treasury Operations, Joint Ventures, Mergers and Acquisitions, as well as Investment Banking and Investor Relations. Prior to joining AC, he worked in leadership roles at Globe Telecom, Marsman Drysdale Corporation, JP Morgan Hong Kong, and San Miguel Corporation. He earned a Bachelor of Science degree in Industrial Management Engineering from De La Salle University.

AREIT filed with the Securities and Exchange Commission (SEC) last July 2025 the Deed of Exchange on the infusion involving eight (8) prime commercial assets in Visayas and Mindanao valued at P21.0 billion, 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.

AREIT is looking forward to securing regulatory approvals for this fifth property-for-share swap with its sponsor, Ayala Land, Inc. (ALI) and its subsidiaries, within the year. This transaction will expand AREIT’s gross leasable area to 4.3 million square meters and Assets Under Management (AUM) to P138 billion.

Today marks AREIT’s fifth anniversary as the first Philippine REIT since listing on the Philippine Stock Exchange on August 13, 2020. Over the past five years, AREIT has sustained strong and consistent growth, with dividends more than doubling, from P0.28 per share for the first quarter of 2020 to P0.59 per share for the second quarter of 2025. Upon completion of the planned P21 billion property infusion, the company’s AUM will have increased fivefold since its IPO. AREIT solidified its position as the best-performing REIT in the country with its inclusion in the Philippine Stock Exchange Index (PSEi), a historic milestone as the first REIT in the country to achieve this.