Megaworld eyes launching real estate investment trust in Q2

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Megaworld Corp is eyeing the launch of its real estate investment trust (REITs) in the second quarter of 2021 saying it remains optimistic about the country's property market despite the COVID-19 pandemic.

"We’re looking to launch REIT by the second half. I can’t say much, you have to wait for the announcement but I can tell you it’s going to be big," Megaworld chief strategy officer Kevin Tan told ANC.

"Our outlook is pretty optimistic. The property sector has remained resilient through the pandemic. What really excites us though is the growth that we’re seeing outside Metro Manila especially in places where Megaworld operates," Tan said.Iloilo, for example, is a "bright spot" for the growing BPO sector due to the number of talents originating from the area.

"So our general sentiment is very much optimistic and we're excited about all new investments that are happening outside Metro Manila," he said.

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