PLDT, Inc. is looking to raise as much as $400 million (P24.6 billion) through a planned real estate investment trust (REIT) listing for its data center business, according to a report by BusinessWorld. The move is aimed at unlocking value from the company's digital infrastructure assets and strengthening its balance sheet.
The proposed REIT, which would involve PLDT's VITRO data center portfolio, would allow the telecommunications giant to monetize its growing data center footprint amid rising demand for cloud and digital services in the Philippines. PLDT has been expanding its data center capacity to support the country's digital transformation.
If successful, the REIT listing could provide PLDT with additional capital to reduce debt and fund further network and data center investments. The company has yet to announce a specific timeline for the offering, but it is expected to proceed pending regulatory approvals and market conditions.