Ayala Land, Inc. (ALI), the real estate arm of the Ayala Group, has raised P489.4 million from the sale of 12 million shares in AREIT, Inc., with plans to reinvest the proceeds to support its growth ambitions.

In a disclosure on Wednesday, ALI said it sold 12 million common shares of AREIT at P40.78 apiece through a block sale transaction with UBS AG Singapore Branch. The transaction value amounts to P489.36 million exclusive of fees and taxes.

"The proceeds from the block sale shall be settled on July 7, 2025, subject to the terms and conditions of the Terms of Sale," the company said.

ALI noted that the reinvestment plan outlining how the proceeds will be used "shall be submitted in due course."

The sale was conducted per international and local securities regulations. 

The shares were sold outside the United States under Regulation S of the U.S. Securities Act and within the U.S. to qualified institutional buyers under Rule 144A.

In the Philippines, the sale is exempt from registration under the Securities Regulation Code, though any resale in the country must comply with local rules unless also exempt.

Early this week, ALI acquired New World Hotel Makati to expand and strengthen its presence in the country’s leading financial and commercial district.

The company said the property will become part of the portfolio of AyalaLand Hospitality, ALI’s hotel and resort development arm, as it expands in high-growth urban centers such as Makati, where it already operates several business and lifestyle hotels. ALI, however, did not disclose the amount of the transaction.