DDMP REIT Inc. (DDMPR), the real estate investment trust (REIT) company of tycoon Edgar “Injap” Sia II, made its debut in the Philippine Stock Exchange (PSE) on Wednesday.
DDMP REIT is the second real estate investment trust (REIT) to list on the local bourse after Ayala Land Inc.’s AREIT Inc. last year.
But DDMP REIT is more than just another new stock available for the public’s taking, Sia said.
Ultimately, he said, DDMP REIT is a “pamana stock” one can bequeath to succeeding generations.
“Your DDMP REIT Basket is what I call the ‘Pamana Stock’ being a stock that owns the prime freehold titled land and the grade A buildings that sit on it,” Sia said during the listing ceremony on Wednesday.
And while pamana is for the succeeding generations, you still get to enjoy the quarterly cash dividend benefits of your DDMP REIT investment as you temporarily hold it in behalf of your next generation, he said.
Based on DDMPR’s regular cash dividend cycle, the next cash dividend is up for declaration in the next three weeks.
Listing during a pandemic
Sia said DDMP REIT’s debut in the market was not a walk in the park at all but with retail investors in mind, the company persevered.
“Listing during a pandemic is definitely not a walk in the park, but we believe this is our share of also promoting a more inclusive economy, and that what we can achieve together now during these challenging, never-been-chartered territories, brought about by this pandemic,” he said.
Despite the challenges, Sia said the DDMP team will still continue to work hard to lift the company to greater heights while further solidifying its foundation year on year.
DDMP started the development of this prime commercial property along EDSA and Macapagal Avenue in the Bay Area in Pasay City, Metro Manila about six years ago in 2015, and in 2017 the first tower was completed. The first four towers were inaugurated about three years ago in May 2018.
“Now the first six towers are already fully completed and occupied, and most importantly today we mark a milestone for the future,” Sia said.
Touting the benefits for investors of a REIT investment, Sia said credit goes to Finance Secretary Carlos Dominguez for paving the way for the creation of a REIT environment in the country.
“Secretary Dominguez, your efforts and decisive leadership has brought to life these REITs in the Philippines which are now starting to make the positive contribution to the economic growth of our beloved country,” Sia said.
Retail investors
“I was merry to have observed that it looks like majority of the DDMPR IPO subscribers could be from thousands of provincial investors who normally just park their passive funds in bank time deposits which only earns them about one percent interest,” Sia said, who is also the owner of Merry Mart.
On the other hand, DMP REIT’s projected yield this year is over five percent.
“I believe this DDMP IPO is probably the first of its P14.7 billion size IPO in the Philippines, whose pricing and direction were driven by the fragmented small and medium investors from across the country,” Sia noted.
He thanked the retail investors and assured them of the company’s commitment to them and to all stakeholders.
“I would like to express my profound commitment to all our stakeholders, especially you, our retail shareholders,” Sia said.