AREIT Inc. (AREIT), the pioneer REIT in the Philippines, was awarded Most Outstanding IPO in the Philippines according to Asiamoney 2021 Asia’s Outstanding Companies Poll and will be a constituent of the FTSE EPRA Nareit Asia ex Japan REITs 10% capped Index effective today.
According to Asiamoney, over 1,071 fund managers, analysts, bankers and ratings agencies took part in the voting which concluded on 16 July 2021. In total, over 5,787 votes were received for publicly-listed companies across 13 markets in Asia. The results recognized 191 companies as being the most outstanding for their sectors and in their market. The poll is conducted annually and is designed to acknowledge listed companies that have excelled in areas such as financial performance, management team excellence, IR activities and CSR initiatives.
Meantime, effective September 20, 2021, AREIT will be a constituent of the FTSE EPRA Nareit Asia ex Japan REITs 10% Capped Index (BBG Ticker: EPAXJRUP). The index has a net market capitalization of USD55.43 million, composed of 28 constituents generating an average dividend yield of 5% as of 31 August 2021 according to its latest factsheet. The index includes various REITs in Asia ex Japan engaged in data centers, diversified portfolio, healthcare, industrial, industrial and office-mixed, lodging or resorts, office, residential, and retail. The index is part of the FTSE EPRA Nareit Global Real Estate Index Series which incorporates REITs and real estate holding and development companies covering global, developed and emerging indexes, as well as the UK’s alternative investment market. AREIT is the first Philippine REIT to be included in this index.
AREIT currently has 344 thousand square meters of gross leasable area (GLA) with total Assets under Management (AUM) of PhP37 billion. With its planned asset infusion, this is expected to reach 549 thousand square meters with an AUM of PhP52 billion.