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AREIT acquiring P19.5-B mall assets from Ayala Land
The Philippine Star
|November 01, 2025
AREIT Inc., the listed real estate investment trust of the Ayala Group, is acquiring two commercial mall properties located in Metro Manila and Cebu worth P19.5 billion from its sponsor Ayala Land Inc. (ALI) through a property-for-share swap transaction.
ALI and its wholly owned subsidiary Summerhill Commercial Ventures Corp. will subscribe to 441.13 million primary common shares of AREIT in exchange for Ayala Center Cebu and Ayala Malls Feliz.
The two properties will be exchanged for AREIT shares priced at P44.15 apiece.
The transaction is the sixth property-for-share swap by AREIT with ALI.
“This latest infusion strengthens AREIT’s portfolio with two dynamic retail destinations, enhancing both our geographic reach and asset mix. As we continue to build scale with quality, our shareholders will benefit from a larger and more diversified portfolio,” AREIT president and CEO Alberto de Larrazabal said.
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