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PLDT Inc. has announced plans to launch what could become the Philippines’ first real estate investment trust (REIT) backed by digital infrastructure assets. Through its subsidiary VITRO Inc., the company aims to raise up to PHP 24.20 billion (USD 398.70 million) via an initial public offering. The proposed REIT will be supported by a portfolio of eight operational data centres across the country. The proceeds are expected to support debt repayment and other corporate requirements, while also highlighting the growing importance of data centre infrastructure in the Philippines' expanding digital economy.
PLDT Inc. has unveiled plans to raise up to PHP 24.20 billion (USD 398.70 million) through a proposed data centre real estate investment trust (REIT) offering, a move that could result in the Philippines’ first publicly listed REIT backed by digital infrastructure assets.
The company said its subsidiary VITRO Inc., operating under PLDT’s corporate arm ePLDT, has submitted a registration statement and REIT plan to the Philippine Securities and Exchange Commission for the proposed transaction.
Under the plan, ePLDT intends to offer up to 1.91 billion secondary shares, along with an over-allotment option of nearly 287 million additional shares. The shares are proposed to be offered at a price of up to PHP 11 each.
According to PLDT, the shares being offered would account for around 48.95% of the REIT’s outstanding capital following the completion of the transaction. The proceeds from the share sale will be received by ePLDT as the selling shareholder. The company said a portion of the funds will be used for debt repayment, while the remainder will support other corporate requirements.
The proposed REIT’s initial portfolio is expected to include eight operational data centres located across the Philippines. Together, these facilities provide an information technology capacity of about 24 megawatts and cater to enterprise clients, cloud service providers and hyperscale customers.
The planned listing comes as demand for data centre infrastructure continues to grow across Southeast Asia, supported by increasing cloud adoption, digital transformation initiatives and rising data consumption. In recent years, the Philippines has seen greater investment interest in digital infrastructure as businesses and technology companies expand their local presence.
PLDT also stated that the company is in the process of renaming the investment vehicle as VITRO REIT, subject to regulatory approvals. Following acknowledgement of its filing by the Securities and Exchange Commission, the company intends to separately seek a listing on the Philippine Stock Exchange.
If completed, the transaction would mark a significant development for the Philippine REIT market by introducing a new asset class centred on data centre infrastructure, broadening investment options beyond traditional office, retail and commercial real estate assets.
Source Reuters
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