MANILA, Philippines — A leading investment house said DoubleDragon Properties’ real estate investment trust (REIT) not only provides steady returns for investors but is also a strong buffer against inflation.
DDMP REIT in March undertook a P14.71-billion initial public offering at the Philippine Stock Exchange, the largest REIT issuance in the country so far. It is the second REIT to debut at the stock market after Ayala Inc.’s REIT offering last year.
Investment & Capital Corporation of the Philippines (ICCP), which acted as one of the domestic underwriters for the offer, said it is honored to be part of the important milestone.
“In addition to providing investors steady returns amid depressed interest rates, the fact that the underlying land is included provides a strong hedge against anticipated inflation,” ICCP president and CEO Valentino Bagatsing said.
DDMPR’s portfolio includes six office towers within the DD Meridian Park at the Bay Area in Pasay City which offers 280,000 square meters of office space.
DDMPR now holds the record for the highest number of local small investors and retail investors for an IPO, with about 40,000, wherein a sizable number come from outside Metro Manila.
Article and Photo originally posted by Philippine Star last May 8, 2021, 12:00am.
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