Citicore Energy REIT Corp. (CREIT), the Philippines’ pioneering renewable energy real estate investment trust, is leveraging its stable financial performance to fuel an ambitious expansion in the green energy sector. The company reported PHP 472 million in revenue for the first quarter of 2025, matching last year’s figures, driven by a robust PHP 419 million base lease that grew 2% year-on-year.
Unlike traditional REITs vulnerable to market fluctuations, CREIT’s focus on renewable energy assets ensures steady income. “CREIT’s stable revenue emphasizes our strengths as a REIT company, operating in an essential energy sector, shielded from market changes and typical cyclicality experienced by traditional REITs,” said CREIT President and CEO Oliver Tan. With an EBITDA of PHP 462 million and a net income of PHP 358 million, CREIT maintains its financial resilience.
The company’s 14 assets, spanning 7.1 million square meters, are fully leased to solar operators under long-term agreements, securing 100% occupancy. On May 9, CREIT declared a Q1 dividend of PHP 0.049 per share, surpassing the minimum 90% distributable income requirement with a 106% payout.
CREIT’s growth strategy hinges on its sponsor, Citicore Renewable Energy Corporation (CREC), which is set to energize one gigawatt of renewable energy projects in 2025 across Batangas, Pampanga, Pangasinan, and Negros Occidental. Many of these projects are on CREIT’s land assets, positioning the REIT for strategic acquisitions.
“CREIT is poised to mirror CREC’s growth trajectory once its sponsor’s projects come online, providing CREIT with a growth roadmap for a value-accretive assets acquisition to further solidify our green real estate portfolio,” Tan said.
CREIT is the Philippines’ largest renewable energy landlord, listed on the Philippine Stock Exchange since February 2022. The company continues to offer investors sustainable returns through its green asset portfolio.
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