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, AREIT, according to a report by Philstar Biz.
The share sale is part of ALI's strategy to unlock value from its property portfolio and raise funds for its core business growth. AREIT, one of the largest REITs in the Philippines, provides investors exposure to prime commercial properties managed by Ayala Land.
This transaction comes amid increasing activity in the Philippine REIT market, as property developers continue to leverage REITs for capital recycling. The funds raised will likely support ALI's ongoing expansion and development projects across the country.