MANILA - Vista Land and Lifescapes Inc said Monday it was considering a real estate investment trust (REIT) initial public offering of its office assets next year.
The REIT IPO is subject to market conditions as well as other commercial and legal considerations, the property firm led by tycoon and former senator Manny Villar said in a disclosure to the stock exchange.
Collectively, REITs companies have raised billions of pesos this year.
More REITs are likely to follow suit after the successful debut and listing of Ayala Land's AREIT and DoubleDragon's DDMP, Securities and Exchange Commission chairman Emilio Aquino earlier said.
Other companies have also successfully listed their REITs units including MREIT of Megaworld and RL Commercial REIT of Robinsons Land Corp.
As for the reported listing of a renewable energy firm, Vista Land deferred commenting on the matter.
"We cannot comment, however, on the plan of the Villar Group to list a renewable energy firm, as any such company will be a different company from Vista Land and its existing subsidiaries.
The company is responding to an earlier report that it was planning to list a REIT unit and a renewable energy firm.
Vista Land operates Vista Malls, Camella Homes, Lumina Homes and other developments.