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Philippines' DoubleDragon Properties plans $305 mln REIT listing

Published 11/16/2020, 12:31 PM
Updated 11/16/2020, 12:40 PM
© Reuters.
DD
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MANILA, Nov 16 (Reuters) - Philippine developer DoubleDragon
Properties Corp DD.PS said on Monday it is planning a 14.7 bln
pesos ($305 mln) real estate investment trust (REIT) listing,
the second offering of the asset class in the country.
DoubleDragon has hired six foreign and three domestic
underwriters as it seeks regulatory approval this week, the
property firm told the local bourse.
REITs, which manage real estate assets such as hotels,
office buildings and malls that regularly generate profits, are
attractive to investors seeking regular dividends.

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