AREIT Inc. , the Ayala Group’s real estate investment trust, reported a 27 percent growth in recurring net income to P2.04 billion in the first half of the year, excluding the net fair value change in investment properties.
The dividends are payable on Sept. 13, 2023 to stockholders on record as of August 30, 2023. This declaration brings the total dividends to P1.05 per share for the first half of 2023, eight percent higher year-on-year. The assets are mainly located in the Makati CBD, specifically, the newest One Ayala Avenue East and West BPO Towers at the corner of Ayala Avenue and EDSA, as well as the Glorietta 1 and 2 mall wing and BPO buildings at Ayala Center.
AREIT is looking forward to securing regulatory approvals for this third property-for-share swap with its sponsor, Ayala Land Inc. , within the year.