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Areit Inc., the real estate investment trust sponsored by Ayala Land Inc., said it wants to maintain its occupancy rate at 97 percent, despite the challenging office space environment. Company president Carol Mills said the company’s diversified asset base can cushion the company from the property leasing market’s headwinds. “Currently,…
Ayala Land Inc. said its net income last year rose by 32 percent to P24.5 billion from the P18.61 billion recorded in 2022. Consolidated revenues went up by 18 percent to P148.85 billion from the previous year’s P126.55 billion. Property development revenues expanded by 14 percent to P92.3 billion, driven…
Areit Inc., the real estate investment trust of Ayala Land Inc., has received Edge Zero Carbon Certification for 8 office buildings comprising 354,000 square meters, making the two companies’ offices the largest certified portfolio in the Philippines. The eight Areit buildings awarded with certification were Glorietta 1 and 2 Corporate…
Last week Share prices plunged last week as investors cashed in on their gains amid increasing concerns over escalating geopolitical tensions. The benchmark Philippine Stock Exchange index fell 139.64 points, or 2 percent, to close at 6,503.54 points. The main index was down almost all-week long, except on Monday, when…
AREIT Inc—the real estate investment trust controlled by billionaire Jaime Zobel de Ayala and his family’s Ayala Land Inc. (ALI)—said last week it has agreed to buy prime properties worth 30 billion pesos ($542 million) from its parent and affiliate companies.