ALI raises P2.67 billion from sale of AREIT shares

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June 17, 2026 | 12:00am

MANILA, Philippines — Property giant Ayala Land Inc. (ALI) has raised P2.67 billion from a fresh round of sale of shares in its listed real estate investment trust.

ALI said it sold 75 million common shares of AREIT Inc. at P35.60 apiece pursuant to a placement agreement with UBS AG Singapore Branch and BPI Capital Corp.

The company said proceeds from the block sale would be settled on June 18, subject to the terms and conditions of the placement agreement.

ALI plans to submit the required reinvestment plan detailing the use of proceeds obtained from the block sale in due course.

In March, ALI raised P3.7 billion from the block sale of 88 million AREIT common shares at P42 apiece.

Shares of ALI closed 3.70-percent lower to P13 apiece yesterday, while AREIT saw its share price fall by 5.45 percent to P36.40.

To manage capital and protect balance sheet strength, ALI has recalibrated its capital expenditures for this year to around P50 billion from the original guidance of P70 billion to P80 billion.

It is also carefully reviewing its planned P30-billion in project launches this year, given current conditions.

The company said it would prioritize projects that are going to be turned over this year and next year, as well as malls that are opening in 2026 and 2027.

During the first quarter, ALI saw its net income decline by 23 percent to P5.4 billion from P6.9 billion in the same period in 2025.

Revenues dropped by 14 percent to P37.5 billion from last year’s P43.6 billion.