Ayala Land, Inc. (ALI), the real estate arm of the Ayala Group, has raised P4.19 billion in fresh capital through a block sale of 100 million AREIT, Inc. shares at P41.90 each — one of its largest secondary share disposals in recent years.
The company confirmed the transaction in a disclosure to the Philippine Stock Exchange on Wednesday, noting that the cross-border placement attracted both offshore and local institutional buyers.
The shares were sold outside the United States under Regulation S and within the U.S. to qualified institutional buyers under Rule 144A.
In the Philippines, the transaction qualified as an exempt sale under Sections 10.1(l) and 10.1(k) and Rule 10.1.3 of the Securities Regulation Code.
ALI clarified that while the sale did not require SEC registration, any resale in the country would need to be registered unless similarly exempt.
Settlement is scheduled for 28 November under the terms of the Placement Agreement, and ALI said it will submit its Reinvestment Plan “in due course.”
The fresh capital comes as ALI reported steady financial performance. The company posted P21.4 billion in net income for the first nine months, slightly up from P21.2 billion a year earlier, supported by consistent property sales and an expanding leasing portfolio.
Consolidated revenues reached P121.8 billion, marginally below last year’s P125.2 billion, as stronger third-quarter Core Residential sales and higher commercial lot and office-for-sale transactions helped offset softer residential demand.
Office and commercial lot sales climbed 3 percent to P12.8 billion, fueled by activity in Makati CBD, Vertis North, and Arca South. Meanwhile, leasing and hospitality operations continued to drive growth, with revenues rising 6 percent to P35.1 billion.
Shopping centers generated P17.4 billion, office leasing hit P9 billion on occupancy rates above industry levels, and hospitality revenues grew 4 percent to P7.4 billion, supported by stable occupancy and contributions from New World Makati Hotel.
On the development front, ALI launched P51.3 billion worth of projects as of September, mostly in the residential segment, while capital spending reached P65.5 billion.
Of this, 40 percent was devoted to residential construction, 26 percent to leasing and hospitality assets, 20 percent to mixed-use estate development, and 13 percent to land acquisition—signaling the company’s continued push to expand its footprint across both homes and commercial spaces.