AREIT OKs property-share swap deal with Ayala Land


Posted at May 02 2023 11:04 AM

MANILA - AREIT and Ayala Land Inc will have a P22 billion property-for-share swap deal, the Ayala-led real estate investment trust said on Tuesday. 

This was after AREIT stockholders approved the deal during its Annual Stockholders’ Meeting, the company disclosed to the stock exchange. 

The deal involves flagship offices and malls such as One Ayala Avenue East and West BPO Towers at the corner of Ayala Avenue and EDSA, the Glorietta 1 and 2 mall wings, and BPO buildings at Ayala Center, and the MarQuee mall in Angeles, Pampanga, located close to the Angeles exit of the North Luzon Expressway (NLEX). 

"These properties have a combined gross leasable area (GLA) of 190 thousand square meters (sqm), an overall occupancy rate of 99 percent, and a weighted average lease expiry (WALE) of 14.5 years," AREIT said.

AREIT noted that its full-year dividends from its 2022 income totaled P1.98 per share, which was 12 percent higher than P1.77 in 2021.


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