Last November, AREIT announced plans to acquire another P30 billion in assets, including Ayala Triangle Tower 2, Greenbelt Mall 3 and 5, Holiday Inn and Suites Makati, SEDA Ayala Center Cebu and SEDA Lio in El Nido from Ayala Land and an industrial land in Zambales from AC Energy. The acquisition is expected to be completed in the third quarter of next year.

Following the announcement, shares of AREIT fell by as much as 16 percent from its November peak. We think the market’s negative reaction was unwarranted for numerous reasons.

The acquisition of P30 billion worth of assets will grow AREIT’s asset portfolio by another 34.5 percent from P87 billion to P117 billion. This will cement its position as the country’s biggest real estate investment trust (REIT). After AREIT, the next biggest REIT is RL Commercial REIT, which has an asset portfolio of around P74 billion.

SOURCE LINK : https://business.inquirer.net/437575/new-asset-injection-to-benefit-areit

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