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DoubleDragon receives PSE approval for real estate investment trust offer

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/03/01/dd.jpg"/><figcaption>The Double Dragon Plaza, under the Double Dragon Properties in Pasay City on May 22, 2018. <em>Mark Demayo, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA - DoubleDragon Properties Corp on Monday said it has secured the approval of the Philippine Stock Exchange for the public offer of DDMP REIT Inc&#x27;s real estate investment trust. </p><p>The listing application covers up to 5.94 billion common shares with an over-allotment option of up to 594.25 million shares, it said in a disclosure to the stock exchange. </p><p>Offer price is up to P2.25 per share, DoubleDragon said. </p><p>The DDMP basket is a &quot;compelling REIT offering&quot; since it includes a corner lot located along Macapagal Avenue, EDSA Extension and Roxas Boulevard, DoubleDragon chairman Edgar &quot;Injap&quot; Sia II said. </p><p>The value of the prime double corner 4.75 hectare titled land ownership is a &quot;game changer&quot; since it will be held in perpetuity and that value should keep on appreciating for decades. he added.</p><p>“When there is underlying titled land ownership included in the REIT shares, even a hundred years from now it should keep its hard value intact. We see DDMP shares as a &#x27;Pamana Stock&#x27; that even our future grandchildren will be happy to inherit,&quot; Sia said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/26/21/doubledragon-reit-ipo-gets-ok-from-pse-set-for-market-debut-on-mar-23">DoubleDragon REIT IPO gets OK from PSE, set for market debut on Mar. 23</a></li>	<li><a href="https://news.abs-cbn.com/business/02/17/21/doubledragon-p1471-billion-real-estate-investment-trust-reits-ipo-sec-ddmp-initial-public-offer-pse-stock-exchange">DoubleDragon&#x27;s P14.71 billion real estate investment trust IPO gets regulator nod</a></li></ul><p>Ayala Land&#x27;s AREIT is the first real estate investment trust in the country. </p><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/K87NEaE5eKk?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>DoubleDragon Properties Corp on Monday said it has secured the approval of the Philippine Stock Exchange for the public offer of DDMP REIT Inc's real estate investment trust. <br /> </p>

DoubleDragon Properties Corp on Monday said it has secured the approval of the Philippine Stock Exchange for the public offer of DDMP REIT Inc's real estate investment trust.