PLDT Inc. announced that its Board of Directors has approved the pursuit of a potential Real Estate Investment Trust (“REIT”) listing that is expected to comprise stabilized, initially income-generating data center assets owned and operated by VITRO Inc. (“VITRO”), a subsidiary of ePLDT Inc. (“ePLDT”).
The initiative follows the issuance of Securities and Exchange Commission (SEC) Memorandum Circular No. 1, Series of 2026, which amended the Implementing Rules and Regulations of Republic Act No. 9856, otherwise known as the Real Estate Investment Trust Act of 2009.
The revised regulations expand the definition of eligible income-generating real estate to include digital infrastructure assets such as information and communications technology (ICT) infrastructure and data centers that generate recurring and predictable cash flows.
The proposed VITRO REIT is envisioned as a strategic platform to unlock value from PLDT Group’s mature digital infrastructure assets, broaden investor participation in the Philippines’ rapidly growing digital economy, and establish a sustainable capital recycling mechanism to support the continued expansion of VITRO’s data center footprint.
As part of the initiative, PLDT, through ePLDT, is evaluating the contribution of selected stabilized, income-generating digital infrastructure assets into the proposed REIT, including VITRO’s data center portfolio. Subject to the necessary approvals, the platform may also facilitate future asset injections as additional digital infrastructure projects mature and become suitable for inclusion in the REIT portfolio.
“This is an important milestone in our efforts to unlock value from PLDT’s digital infrastructure portfolio while supporting the country’s increasing demand for enterprise-grade and AI-ready data center capacity,” said Victor S. Genuino, President and Chief Executive Officer of ePLDT. “VITRO has established a leading data center platform in the Philippines, and a potential REIT listing would further strengthen this platform while creating new opportunities for investors to participate in the growth of the digital infrastructure sector.”
VITRO currently operates a nationwide network of data centers serving enterprise, hyperscale, cloud, and other customers. The company continues to expand its capacity to meet growing demand for secure, resilient, and scalable digital infrastructure through ongoing developments and planned facilities.
The proposed REIT listing remains subject to corporate and regulatory approvals, market conditions, finalization of the transaction structure, and the filing and approval of the necessary applications with the Securities and Exchange Commission and the Philippine Stock Exchange.
At this stage, no final decisions have been made regarding the composition of the asset portfolio, offering size, valuation, timing, ownership structure, or other commercial terms of the proposed transaction. PLDT will provide further disclosures in accordance with applicable laws, regulations, and disclosure requirements as developments warrant.
