AREIT 2023 Income Up 43% to P4.9B; Declares 4Q23 Dividends of P0.55/share
February 29, 2024February 19, 2024 – AREIT, Inc. (AREIT), the first Philippine REIT, posted total revenues of P7.14 billion and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of P5.04 billion, 41% and 39% higher year-on-year respectively, on account of stable operations and consistent asset infusions. Net income registered at P4.93 billion, 43% higher year-on-year, excluding the net fair value change in investment properties. AREIT's properties recorded a 97% average occupancy at the end of the year, higher than the industry.
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