‘Undervalued’ Philippine Builder Sees Some Love With REIT
- Filinvest Land is floating 17 office buildings in a REIT
- REIT unit valued as much as $851 million at top of price range
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Filinvest Land Inc., the cheapest among the biggest builders in the Philippines, expects a valuation boost when its real estate investment trust venture goes public later this year.
The planned third-quarter float of 17 office buildings in a real estate investment trust should also help Filinvest Land finance projects and return to pre-pandemic-level earnings within three years, Chief Executive Officer Josephine Gotianun-Yap said in an interview.