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AREIT Income Rises in 2024
The Philippine Star
|February 23, 2025
AREIT Inc., the listed real estate investment trust of the Ayala Group, saw its earnings rise by nearly half last year, driven by strong contributions of its asset acquisitions.
AREIT reported a net income of P7.4 billion in 2024, up by 49 percent year-on-year, with revenues rising by 44 percent to P10.3 billion.
The company attributed its robust performance for the year to the contributions of its 2024 acquisitions namely, Ayala Triangle Gardens Tower 2 office building, Greenbelt 3 and 5 mall, Holiday Inn Hotel and Suites Makati, Seda Ayala Center Cebu and industrial land in Zambales as well as the full year contributions of 2023 acquired assets.
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