AREIT, INC. posted a 23.81% increase in first-quarter net income to P2.6 billion from a yr earlier, excluding fair value changes in investment properties, driven by contributions from newly acquired assets and stable leasing performance.
In a disclosure, the actual 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 corporate expects continued growth because it prepares more asset acquisitions.
AREIT attributed the earnings growth mainly to income contributions from eight industrial properties added to its portfolio in 2025, situated in Cebu, Davao and Cagayan de Oro, which began contributing in July last yr.
In December 2025, shareholders approved a property-for-share swap with sponsor Ayala Land, Inc. and unit Summerhill Industrial Ventures Corp., covering Ayala Center Cebu and Ayala Malls Feliz, with a combined value of P19.5 billion.
The transaction remains to be under regulatory review. Once accomplished, it is anticipated to lift AREIT’s assets under management to about P159 billion.
AREIT shares fell 0.26% to shut at P38.10 each. — Alexandria Grace C. Magno