Ayala North Exchange, a property in the initial portfolio of Ayala Land REIT. (Photo: Google Maps)

Philippine Stock Exchange-listed AREIT has reported revenue of PHP1.36 billion (USD26 million) and EBITDA of PHP1.05 billion for its 1H 2021.

These represent year-on-year increases of 49% and 39% respectively.

The Ayala Land-sponsored REIT has attributed this result to income contribution from new acquisitions, rent escalations at existing leases, and its high occupancy figure of 99%.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.