Philippine Property Market: Aboitiz's LIMA Expansion, AREIT's Ayala Swap, and SM Prime's Corporate Suites

Today's roundup covers major moves across the Philippine property sector, from large-scale estate expansion and REIT consolidation to policy delays and hospitality demand.

Aboitiz Estate Eyes 500-Ha LIMA Expansion, P7-B Office Pipeline

Aboitiz Economic Estates is set to grow its LIMA Estate in Batangas from 1,100 to 1,600 hectares, backed by a P7-billion pipeline for seven office towers. The company plans to break ground on the first 100 hectares by year-end and roll out roughly 100 hectares of new inventory annually over the next five years. Its existing 11-story LIMA Tower 1 is already half-occupied, with BPO firms making up nearly all of its tenants. According to BusinessWorld, the expansion signals continued confidence in Batangas as an emerging business hub.

AREIT Eyes Year-End Approval for P17.3-B Ayala Asset Swap

AREIT, Inc. is targeting SEC approval before the end of 2026 for its P17.33-billion property-for-share deal with Ayala Land and several of its units. The arrangement involves AREIT issuing over 462 million new shares priced at P37.48 each in exchange for six properties, a move that would push its leasable space to about five million square meters and assets under management to P179 billion. Shares of both companies rose following the announcement. According to BusinessWorld, the transaction would mark a significant expansion of AREIT's portfolio.

Finance Dep't Backs Delay in Property Valuation Reform

The Department of Finance is pushing for a one- to two-year postponement of the Real Property Valuation and Assessment Reform Act, citing the need to give local government units more preparation time. The delay could have ripple effects on how property taxes and valuations are assessed nationwide. According to BusinessWorld, the recommendation reflects concerns over implementation readiness at the LGU level.

SM Prime's Premier Suites Draw Strong Corporate Demand

SM Prime Holdings is reporting robust corporate interest in the Premier Suites at its newly opened SM Seaside Cebu Arena, which features 30 total suites split between premier and sport/events categories. Early adopters include Bai Hotel, Cebu Landmasters, Cokaliong Shipping Lines, and the University of Cebu, with about ten of the 24 Premier Suites already reserved, per company executives. According to Philstar.com, the strong early bookings point to healthy demand for premium venue spaces in Cebu.