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Philippine REIT Listings Signal Market Confidence — Analysts (BusinessWorld)

May 26, 2021 – The growing number of companies offering or expressing interest in tapping the real estate investment trust (REIT) market in the Philippines signal confidence in the capital market, but their dividends will be watched by investors, analysts said.

“It shows that companies feel that the capital market is a good place to raise money, and it also shows that there are available investors ready to take them,” Juanis G. Barredo, chief technical analyst of COL Financial Group, Inc., said in a Viber message last week.

“If they feel or sense otherwise, they [will] defer such offerings,” he added.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said seeing more companies offer REITs is “a good signal on the further progress and development of the country’s capital market.”

DoubleDragon Properties Corp. debuted its REIT at the stock exchange in March to hold the record number of small investors. Listed 17.83 billion shares were priced at P2.25 each.

In the same month, Filinvest Land, Inc. subsidiary Cyberzone Properties, Inc. filed for the registration statement of its REIT initial public offering (IPO) with the Securities and Exchange Commission (SEC). The company is also in the process of applying to change its name to Filinvest REIT Corp.

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