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More Firms Creating REITs In The Philippines (The Philippine Star)

More Firms Creating REITs In The Philippines (The Philippine Star)

August 24, 2020 – (The Philippine Star) Three more real estate companies have expressed interest in forming and listing their own real estate investment trust (REITs) in the stock market, according to Securities and Exchange chairperson Emilio Aquino.

While Aquino did not identify the companies, DoubleDragon, owned by Edgar “Injap” Sia II, has already bared plans to list its REIT.

Another company watching the REIT landscape is Villar-owned Vista Land.

DoubleDragon’s DD Meridian Park REIT or DDMP has an estimated value of P50.9 billion and the company expects to generate P17 billion  from the planned REIT listing.

DoubleDragon’s first tranche of REIT assets will comprise of leasable properties of DD Meridian Park consisting of seven buildings with a total area of 248,349 square meters.

Read more here..

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