MANILA, Philippines — Ayala Land Inc. (ALI) and its subsidiaries announced plans to inject ₱21 billion worth of assets into its real estate investment trust (REIT). This move will be executed through a property-for-share swap deal, pending regulatory approval.
AREIT Inc., the country’s first publicly listed REIT, disclosed the development as part of its ongoing efforts to expand and strengthen its portfolio.
In related news, AREIT’s first-half bottom line rose 45% to ₱4.3 billion, highlighting the company’s robust performance in the real estate sector.