(SPOT.ph) Real estate company Robinsons Land Corporation is now getting into the game of offering real estate assets to the investing public. The Securities and Exchange Commission gave the approval for RL Commercial REIT, Inc., a real estate investment trust initial public offering of up to P26.7 billion. It has a proposed offering of up to 3.34 billion common shares at a maximum offer price of P7.31 per share, with an over-allotment option of up to 305 million common shares. It's the fourth REIT to get approval, after Ayala Land’s AREIT Inc., DoubleDragon Properties’ DDMP REIT Inc., and Filinvest REIT Corporation.
What Is a Real Estate Investment Trust?
REIT is a company that invests primarily in income-generating real estate assets. You may be more familiar with mutual funds, which is similar in a sense with REIT since they're both types of pooled investment. And like most investments in the Philippines, it can be traded in the Philippine Stock Exchange.
Buying and selling REITs is like buying and selling physical properties, but it's obviously more affordable than buying an actual real estate property. It lets you earn through income-generating real estate assets (a.ka. commercial spaces) since REITs are required to distribute income to investors like yourself through dividends.
RL Commercial REIT, Inc. as an Investment
RL Commercial REIT, Inc. is poised to be "largest REIT by portfolio valuation," according to a press release. This promise comes from the fact that it has the most geographically diversified office REIT in the country with a total gross leasable area of 425,315 square meters. Their real estate assets are located in central business districts across Metro Manila, such as Makati, Pasig, Quezon City, and Taguig; and other business hubs in the Philippines like Naga, Tarlac, Cebu, and Davao. Most tenants of RCR properties are from the BPO industry as well as information technology and business process management.
“We are committed to providing an excellent customer experience and satisfaction by offering and maintaining office projects of high quality and reliability, meeting the evolving needs of our customers,” the company stated in the REIT Plan submitted to the Securities and Exchange Commission.
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Source: Spot PH
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