AREIT Inc. (AREIT), the pioneer real estate investment trust (REIT)in the Philippines, was awarded Most Outstanding Initial Public Offering in the Philippines, according to Asiamoney 2021 Asia’s Outstanding Companies Poll.
Additionally, AREIT will also be a constituent of the FTSE EPRA Nareit Asia ex Japan REITs 10 percent Capped Index effective September 20, 2021.
According to Asiamoney, over 1,071 fund managers, analysts, bankers, and rating agencies took part in the voting, which ended on July 16, 2021. In total, over 5,787 votes were received for publicly-listed companies across 13 markets in Asia.
The results recognized 191 companies as being the most outstanding for their sectors and in their markets. The poll is conducted annually and is designed to acknowledge listed companies that have excelled in areas such as financial performance, management team excellence, IR activities, and CSR initiatives.
FTSE EPRA NAREIT Asia
Meantime, effective September 20, 2021, AREIT will be a constituent of the FTSE EPRA Nareit Asia ex Japan REITs 10 percent Capped Index.
The index has a net market capitalization of $55.43 million, composed of 28 constituents generating an average dividend yield of five percent as of August 31, 2021, according to its latest factsheet.
The index includes various REITs in Asia ex Japan engaged in data centers, diversified portfolios, healthcare, industrial, industrial and office-mixed, lodging or resorts, office, residential, and retail.
The index is part of the FTSE EPRA Nareit Global Real Estate Index Series that incorporates REITs and real estate holding and development companies covering global, developed and emerging indexes, as well as the UK’s alternative investment market.
AREIT is the first Philippine REIT to be included in this index.
AREIT currently has 344,000 square meters of gross leasable area (GLA) with total assets under management (AUM) of P37 billion. With its planned asset infusion, this is expected to reach 549,000 square meters with an AUM of P52 billion.