Ayala Land, the property developer for Ayala Corporation, a conglomerate that includes Bank of the Philippine Islands BPI, Manila Water, and Globe Telecom, will gage investor interests for its P15 billion $300 million real estate investment trust REIT following the Philippine Stock Exchange’s approval on July 20.
Ayala Land’s REIT AREIT is slated to become the Philippine’s first property trust after the REIT law was enacted back in 2009.
AREIT’s listing tests investor appetite for office assets when many Filipinos continue to work from home under the enhanced community quarantine ECQ.
Property bulls argue that Philippines business process outsourcing BPO,...
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