Megaworld eyes biggest call center REIT in PH
Megaworld, the biggest developer and lessor of office space for call centers and other outsourcing companies, plans to raise ₱27.3 billion ($567 million) in the Philippines’ largest real estate investment trust offering.
The company plans to offer up to 1.24 billion shares at up to 22 pesos apiece, which would make it the country’s largest REIT assuming the overallotment option is exercised at that price.
“Our tried-and-tested signature concept of the township has attracted over 200 BPO [business process outsourcing] and multinational companies to locate with us through the years since we started our first-ever Eastwood cyberpark in 1999,” said Kevin Tan, MREIT president and chief executive.
Megaworld intends to reinvest the net proceeds from the offer in 16 projects in the Philippines.
