Filinvest Land to transform unit into REIT bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Filinvest Land Inc. is planning to convert its wholly-owned subsidiary, Cyberzone Properties Inc. (CPI), into a Real Estate Investment Trust (REIT) Company.
In a disclosure to the Philippine Stock Exchange, FLI said the move has been approved by its Board of Directors.
“CPI is intended to be listed on the PSE in compliance with the minimum public ownership requirements under Philippine securities regulations and the Real Estate Investment Trust Act of 2009 and its implementing rules and regulations and under such terms and conditions as FLI’s Board of Directors may subsequently approve,” said FLI.
Filinvest is one of the pioneer providers of office space to the business process outsourcing (BPO) industry in the Philippines and currently has 43 operating and under construction office buildings covering over 824,000 sqm of gross leasable area.