MANILA - More real estate investment trusts (REITs) are set to debut and are now undergoing regulatory review, an official said Wednesday, following the debuts of DoubleDragon and Ayala Land.
"We already approved at our level sa DD [DoubleDragon], there are like 4 or 5, it is still being undergoing some processes, but we are expecting quite a number of REITs that is forthcoming," Securities and Exchange Commission chairman Emilio Aquino said in a virtual briefing.
DoubleDragon earlier said it has secured the approval of both the SEC and the Philippine Stock Exchange for the initial public offer of its P14.71 billion real estate investment trust.
Ayala Land's AREIT is the first real estate investment trust to list in the stock exchange.
REITs involve leasing of real estate assets and the distribution of income to shareholders through dividends.
The SEC said fund raising in capital markets rose in 2020, as quarantined Filipinos searched for ways to make their money earn.