{"id":18796,"date":"2024-05-17T03:03:16","date_gmt":"2024-05-17T03:03:16","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/reit-listing-for-pldts-data-center-arm-may-draw-investor-interest-analysts\/"},"modified":"2024-05-17T03:03:16","modified_gmt":"2024-05-17T03:03:16","slug":"reit-listing-for-pldts-data-center-arm-may-draw-investor-interest-analysts","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/reit-listing-for-pldts-data-center-arm-may-draw-investor-interest-analysts\/","title":{"rendered":"REIT listing for PLDT\u2019s data center arm may draw investor interest \u2014 analysts"},"content":{"rendered":"
\n

By Ashley Erika O. Jose, <\/b><\/span>Reporter<\/i><\/span><\/p>\n

A REAL ESTATE investment trust (REIT)\u00a0listing\u00a0for\u00a0the\u00a0data\u00a0center\u00a0arm\u00a0of\u00a0PLDT\u00a0Inc. is expected to draw interest from investors, according to\u00a0analysts.<\/p>\n

PLDT\u00a0is in talks to sell up to 49% of its\u00a0data\u00a0center business to Japan\u2019s Nippon Telegraph and Telephone (NTT), but it is also open to a\u00a0REIT\u00a0listing\u00a0 if the valuation targets are not achieved.<\/p>\n

\u201cBusiness is business. If they cannot meet the target objective of valuation\u00a0for\u00a0PLDT, we have to talk to others who offer high valuation. If we cannot get the values from equity investors, let\u2019s\u00a0say\u00a0we decided to keep control, we might get a\u00a0REIT\u00a0listing\u00a0for\u00a0the\u00a0data\u00a0centers,\u201d\u00a0PLDT\u00a0Chairman and Chief Executive Officer Manuel V. Pangilinan said during the company\u2019s financial briefing on May 9.<\/p>\n

Sought\u00a0for\u00a0comment, Chinabank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message: \u201cA\u00a0data\u00a0center\u00a0REIT\u00a0listing\u00a0on the PSE would be the first of its kind in the local market, so that novelty factor alone will draw the attention of investors.\u201d<\/p>\n

\u201cThere\u2019s also a potentially\u00a0good\u00a0investment story given the secular tailwinds\u00a0for\u00a0the digital infrastructure industry,\u00a0foremost of which are the growth of artificial intelligence and the expansion of the digital ecosystem,\u201d he added.\u00a0<\/span><\/p>\n

To date,\u00a0PLDT, through its subsidiary ePLDT, has 11\u00a0data\u00a0centers, including the 50-megawatt hyperscale\u00a0data\u00a0center\u00a0in Sta. Rosa, Laguna, which is expected to be completed by July.<\/p>\n

REITs are companies that own real estate-related assets, generating income from properties like land, buildings, and real estate securities. They are created to provide an\u00a0alternative\u00a0to illiquid real estate investments, offering a liquid asset class. Publicly traded property stocks, such as\u00a0REITs, enable investors to access real assets.<\/p>\n

\u201cPLDT\u2019s\u00a0data\u00a0center\u00a0REIT\u00a0could be a\u00a0good\u00a0option\u00a0for\u00a0investors seeking exposure to the growing\u00a0data\u00a0center\u00a0market,\u201d First Grade Finance, Inc. Managing Director Astro C. del Castillo said in a Viber message.<\/p>\n

The Philippines is seen as an attractive location\u00a0for\u00a0hyperscalers as the country is strategically positioned to take advantage of the transitions in the Southeast Asian region.<\/p>\n

For Mr. Del Castillo, a possible\u00a0REIT\u00a0listing\u00a0is expected to generate interest due to the growing\u00a0data\u00a0center\u00a0demand.<\/p>\n

\u201cThe\u00a0data\u00a0center\u00a0demand is growing and this bodes well\u00a0for\u00a0stable and potentially growing income\u00a0for\u00a0investors. Another reason would be\u00a0PLDT\u00a0estimates the\u00a0data\u00a0center\u00a0business to be worth over $1 billion.\u00a0REITs are known\u00a0for\u00a0offering\u00a0good\u00a0dividends, so investors could benefit from a share of that value,\u201d he said.\u00a0<\/span><\/p>\n

However, he also said, since this would be the first\u00a0REIT\u00a0listing\u00a0of its kind in the Philippines, investors might be cautious about the track record and stability of payments to investors.<\/p>\n

High interest rates are also a factor to consider and may sway investors due to the current conditions, Mr. Colet said.<\/p>\n

\u201cAt the end of the day, investors will focus primarily on the total return, especially the dividend yield, that a\u00a0REIT\u00a0can deliver to shareholders. Since we are in an elevated interest rate environment, investors will demand premium dividend yields, which will lower the IPO (initial public offering)\u00a0 valuation of a\u00a0REIT,\u201d he said.<\/p>\n

Last year,\u00a0PLDT\u00a0said it was targeting to grow its\u00a0data\u00a0centers by up to 25% with a planned expansion in Luzon.<\/p>\n

Hastings Holdings, Inc., a unit of\u00a0PLDT\u00a0Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld<\/i> through the Philippine Star Group, which it controls.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A REAL ESTATE investment trust (REIT)\u00a0listing\u00a0for\u00a0the\u00a0data\u00a0center\u00a0arm\u00a0of\u00a0PLDT\u00a0Inc. is expected to draw interest from investors, according to\u00a0analysts.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[15744,16446,14644,1005,3706,17935,168,4289,2363,16029,170,17934,17417,11],"class_list":["post-18796","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-analysts","tag-arm","tag-bworldonline","tag-center","tag-data","tag-draw","tag-for","tag-interest","tag-investor","tag-listing","tag-may","tag-pldts","tag-reit","tag-years"],"yoast_head":"\nREIT listing for PLDT\u2019s data center arm may draw investor interest \u2014 analysts - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/reit-listing-for-pldts-data-center-arm-may-draw-investor-interest-analysts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REIT listing for PLDT\u2019s data center arm may draw investor interest \u2014 analysts - 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