HEADLINES
Due to upcoming expansion plans, SM Prime may need to raise USD150 million if the REIT rules will still take longer from being passed by the tax authorities.


Metro Pacific Investments Corp.’s earnings report reflected a Php1.93 billion profit for the first half of 2010. Furthermore, its hospital group is looking into putting up a real estate investment trust


SM Prime is planning to tap the debt market or borrow money amounting to USD100 million if it fails to launch its REIT listing


Property giants Ayala Land Inc., SM Prime and Robinsons Land Corp


Robinsons Land Corporation plans to spend PHhp1 billion for the redevelopment of its five malls this year, along with appointing Citigroup and DBS Bank as arrangers for its planned REIT offer.



SM Prime, who formerly announced a planned USD500million REIT offer, has tasked CLSA and Macquarie to act as its financial advisers and joint bookrunners for the offer.



Ayala Land, who formerly announced a planned USD300million REIT offer, has tasked UBS to partner with JP Morgan to act as its joint advisors and global coordinators for the offer.



Belle Corp. is planning to launch its own REIT offering within two years or upon the completion of its planned casino complex, according to Belle Corp. Vice-Chairman Willy Ocier.




SM Prime, one of the first companies who plans to tap on REITs for funding, has announced that it will invest Php6 billion for two malls to be built in Cebu.



Ortigas & Co. Limited Partnership has expressed interest on a REIT offer to raise funds for its Greenhills shopping complex.



AgriNurture Inc. has announced that it plans to have an IPO by September and a REIT offer on its farms once economy of scale is achieved.



Government and industry experts believe that the first firm to be listed as a REIT will have an advantage in securing an investor base.



Retail and mall operators Waltermart and Puregold Price Club Inc. have expressed interest in raising funds through REITs for their expansion plans.



JG Summit forecasts its earnings to grow by double-digits; may start REIT offering after further consultation.



The Bureau of Internal Revenue (BIR) approved the proposed tax provisions for the REIT Act of 2009; comments are accepted until June 30, 2010.



Shang Properties Inc. is looking into tapping REITs to raise funds for Shangri-La mall and an office building.



Ayala Land Inc. reportedly is considering on increasing its REIT offer from USD350mn to USD450mn.



Megaworld might take up an IPO for REIT pending the REIT performance of bigger property developers planning the same route.



Be informed on the protective or safeguard measures for the REIT investors as is stated in the REIT Law and its implementing rules and regulations.



Robinson Land Corporation (RLC) indicated that it might offer USD300mn in REIT papers for the second half of 2010.



Ayala Land Inc. has expressed interest in raising a minimum of USD 300million by setting up a REIT to cover additional projects.



< back to home page