The Villar Group is gearing up for their second REIT listing after VistaREIT. This time, it will be a power and infrastructure REIT – PremiereREIT

This is hot off the press and I could not find the prospectus nor the website for the said REIT. The press release does offer some tidbits of information:

The company is headed by Manuel Paolo Villar, who also happens to lead the retail focused VREIT. It plans to IPO in November this year with a goal of raising P3.2 billion.

It’s interesting that the Villar Group is taking a thematic approach with their REIT companies when they could have infused the power assets into VistaREIT and make it a large and diversified REIT. At the moment, PremiereREIT’s assets include those leased by power plants in Camotes and Siquijor islands. Whether they infuse the water, telecommunication and toll road properties of Prime Asset Ventures Inc. in the future remains to be seen. Although this won’t be the Philippines first energy REIT (that would be CREIT from Citicore), it will be the first infrastructure themed REIT if they do decide to include the other utility assets.

Hats off to this group for paving the way for more types of REITs and hopefully this will encourage other  companies to look at REITs as an avenue to raise capital while providing investors like us more options. I’ll continue to keep an eye out for their prospectus.