28/02/2023
The Ayala family’s real estate investment trust (AREIT) announced a 55 percent jump in its net income to P3.4 billion last year on the back of strong revenues.
Occupancy rate reached 98 percent with robust collection performance driving a 53 percent year-on-year climb in revenues.
AREIT exceeded its P60 billion goal for assets under management (AUM) and ended 2022 with P64 billion in AUM after acquiring six office buildings in Cebu through a property-for-share swap with Ayala Land.
The Ayala family's real estate investment trust (AREIT) announced a 55 percent jump in its net income to P3.4 billion last year on the back of strong revenues.