PLDT, a telecommunications company in the Philippines, has submitted a request to establish and list a Real Estate Investment Trust (REIT) focused on data centers. This week, the firm revealed that Vitro Inc. A complete subsidiary of ePLDT, Inc., PLDT’s IT subsidiary.
A registration statement and REIT plan have been submitted to the Securities and Exchange Commission of the Philippines by PLDT for a proposed initial public offering (IPO). PLDT stated that the IPO will be the first digital infrastructure REIT in the Philippines. Real estate investment trusts, commonly known as REITs, are businesses that possess and frequently manage income-generating properties like data centers.
Investors utilize them as a financial resource, profiting through property leasing and subsequent rent collection. Data center REITs, also known as real estate investment trusts, are financial entities in which the main source of income is derived from renting out data centers. One such company is Vitro Inc. is undergoing a corporate name change to Vitro REIT, Inc.
Pending SEC approval, the REIT’s portfolio will consist of 24MW capacity in Tier II and III quality data centers, spread throughout the Philippines.
