CREIT earns ₱1.85B as solar-backed leases lock in stable income

100% occupancy and 19-year leases drive 6.3% yield in 2025.

Citicore Energy REIT Corp. (CREIT) reported a net income of ₱1.85 billion for 2025, against total revenues of ₱1.88 billion, reflecting how closely its earnings track its lease-based structure.

As the country’s first renewable energy real estate investment trust that leases land to solar power developers, a large portion of revenues—₱1.67 billion—came from guaranteed base lease income. Meanwhile, variable lease earnings contributed ₱50.29 million, giving CREIT some upside when its solar tenants generate more than expected.

The company takes 50% of incremental gross revenues beyond agreed base levels, tying part of its growth to stronger renewable energy output.

Capturing the variable upside

Unlike traditional REITs that depend on office or retail demand, CREIT’s assets are linked to solar developments, reducing exposure to vacancies during economic slowdowns. It maintained 100% occupancy and a weighted average lease expiry of 19.44 years, securing long-term, predictable cash flow.

Outperforming the REIT law

That consistency translated into a ₱0.203 per share dividend, equivalent to a 6.3% yield, with payouts reaching 106% of distributable income for the fourth straight year—well above the 90% minimum required under the REIT Law.

CREIT’s structure highlights how energy-linked assets are becoming a more defensive income option, especially as the country expands its renewable capacity and power demand continues to rise.

 

 

While office REITs struggle with vacancies, CREIT is shining. With 100% occupancy and a 19-year lease average, discover how the Philippines’ first renewable energy REIT delivered a 6.3% yield in 2025.

 

 

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