Filinvest eyes green investors to boost proposed REITs offering

Bruce Rodriguez, ABS-CBN News

Posted at Jun 22 2021 05:02 PM

MANILA - The Filinvest group is eyeing support from sustainability-focused investors for its upcoming P14.9 billion real estate investment trust (REIT) offering in July.

Filinvest Land president and chief executive officer Josephine Gotianun-Yap said most of the office buildings for the proposed REITs offer have been certified as LEED v4 gold. 

LEED, which stands for "Leadership in Energy and Environmental Design" is a green building certification program used worldwide, which was developed by the non-profit US Green Building Council. LEED v4 gold second-highest level of certification for a green building. 

The complex where the buildings are located also features an "eco-loop" that uses electric-powered public transport vehicles, Yap said during a webinar on sustainable cities organized by French energy player ENGIE.

"Being a developing country and in a place where the private sector has to pay for a lot of things, unlike Singapore, so we would focus on the major issues which is really energy consumption reduction and greening transportation and improving water quality," Gotianun-Yap said.

Filinvest Land Inc earlier said its subsidiary Cyberzone Properties Inc, which will be renamed Filinvest REIT Corp, was seeking approval of its real estate investment trust initial public offer.

Ayala Land's AREIT and DoubleDragon's DDMP are already listed in the Philippine Stock Exchange while Robinsons Land and Megaworld are seeking approval of proposed REITs offerings.

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