DoubleDragon REIT gets PSE nod

The Philippine Stock Exchange Inc. (PSE) on Friday said they have approved the initial public offering (IPO) of the real estate investment trust (REIT) of DoubleDragon Properties Corp., DDMP REIT Inc.

“We are optimistic that more property companies will list REITs in the exchange this year given the benefits to the REIT company, its investors and to the country’s economy because of the reinvestment in the Philippines rule for the REIT’s sponsor,” PSE President and Chief Executive Officer Ramon Monzon was quoted as saying in a statement.