MANILA, Philippines — Property developer Ayala Land Inc. is reportedly eyeing to raise $500 million as it prepares to participate in the real estate investment trust (REIT) industry in the Philippines. According to a Wednesday report by The STAR, Ayala Land filed a REIT company registration with the Securities and Exchange Commission. REIT is deemed a very important vehicle to generate more investments especially for real estate companies but was stalled by tight taxation framework. Companies that own and operate income-generating real estate assets are considered REIT companies. It also set the minimum public ownership of such trusts at 40% for the first two years of their listing and 67% thereafter.

Source: Philippine Star April 24, 2019 10:41 UTC