In a letter to the Philippine Stock Exchange on March 05, 2021, Double Dragon Properties Corporation disclosed that the company’s maiden Real Estate Investment Trust, called DDMP (Double Dragon Meridian Park) REIT, had been priced at P2.25 per share.
At this price, the estimated dividend yield as per the REIT company’s projections is 5.0% for year 2021 and 5.5% for the following year.
Double Dragon’s REIT will be offered to the public through an Initial Public Offering (IPO) which shall commence on March 10 and end on March 16, 2021. The stock (ticker symbol: DDMPR) will start trading on the stock market on March 23, 2021.
DDMP REIT, Inc.’s property portfolio consists of office towers with retail components in DD Meridian Park, an office-led, mixed-use development, located along the corners of Macapagal Avenue, EDSA Extension, and Roxas Boulevard in the Bay Area of Metro Manila.
Related: How to Invest in REIT