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AREIT gets P21-B boost from parent Ayala Land, sister firms

MANILA, Philippines — AREIT Inc. will get a P20.99-billion infusion from sponsor Ayala Land Inc. (ALI) and two of the latter’s subsidiaries through a property-for-share swap deal. This would enable the Ayala group’s real estate investment trust (REIT) to expand and diversify its portfolio. In a disclosure on Friday, the country’s first publicly listed REIT