AREIT Q1 net income rises 23.8% to P2.6 billion on asset contributions, strong leasing

AREIT, INC. posted a 23.81% increase in first-quarter net income to P2.6 billion from a year earlier, excluding fair value changes in investment properties, driven by contributions from newly acquired assets and stable leasing performance.

In a disclosure, the real estate investment trust said revenue for the quarter rose 21% to P3.5 billion, while earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 23% to P2.6 billion.

“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 Chief Executive Officer Alberto M. de Larrazabal said.

He said the company expects continued growth as it prepares more asset acquisitions.

AREIT attributed the earnings growth mainly to income contributions from eight commercial properties added to its portfolio in 2025, located in Cebu, Davao and Cagayan de Oro, which started contributing in July last year.

In December 2025, shareholders approved a property-for-share swap with sponsor Ayala Land, Inc. and unit Summerhill Commercial Ventures Corp., covering Ayala Center Cebu and Ayala Malls Feliz, with a combined value of P19.5 billion.

The transaction is still under regulatory review. Once completed, it is expected to raise AREIT’s assets under management to about P159 billion.

AREIT shares fell 0.26% to close at P38.10 each. — Alexandria Grace C. Magno