PLDT Files to Launch Philippines’ First Data Center REIT with $396 Million IPO
June 22, 2026
PLDT Files to Launch Philippines’ First Data Center REIT with $396 Million IPO
Philippine telecommunications giant PLDT has taken a major step toward creating the country’s first digital infrastructure real estate investment trust (REIT), filing a registration statement with the Securities and Exchange Commission for an initial public offering. The move, announced this week, positions the company to unlock value from its data center portfolio while offering investors a new avenue to tap into the nation’s growing digital economy.
Vitro Inc., a wholly-owned subsidiary of PLDT’s IT arm ePLDT, has submitted the REIT plan and is in the process of changing its corporate name to Vitro REIT, Inc., pending regulatory approval. The REIT will be seeded with eight Tier II and Tier III data centers across the Philippines, totaling 24 megawatts of capacity. PLDT aims to raise approximately ₱24.2 billion ($396 million) by selling around 49 percent of Vitro’s shares in the IPO.
REITs are companies that own and often operate income-producing real estate, such as data centers, generating revenue through leasing space and collecting rent. Data center REITs, in particular, derive all or most of their income from leasing data center facilities. Vitro REIT will mark the first such digital infrastructure REIT in the Philippines, according to PLDT.
“Today’s filing marks an important step in our efforts to unlock value from PLDT Group’s digital infrastructure portfolio while supporting the continued expansion of Vitro REIT’s data center platform,” said Victor S. Genuino, president and CEO of ePLDT and Vitro REIT. “As demand for secure, resilient, and scalable digital infrastructure continues to grow, the proposed Vitro REIT IPO creates an opportunity for investors to participate in the growth of one of the country’s most critical digital infrastructure sectors.”
PLDT first confirmed it was exploring the formation of a data center REIT earlier this month. The company is the Philippines’ largest fully integrated telecom operator and is listed on the Philippine Stock Exchange. Vitro was established as the data center subsidiary of ePLDT in 2000, and ePLDT itself is the ICT arm of PLDT.
Beyond the REIT portfolio, PLDT operates ten data centers with a combined IT capacity of 63 megawatts, along with cable landing stations in Deat, Digos, La Union, and Batangas. The company recently launched a 50MW hyperscale facility in Santa Rosa, outside Manila, and has plans for a 100MW facility in General Trias, a city south of the capital. PLDT had previously sought a minority investor for its data centers, with CVC Capital Partners, Japanese telco NTT, and others considered as potential suitors before those plans were abandoned last year.
The move aligns with a broader industry trend where major data center firms operate as REITs or spin off publicly listed REITs holding stakes in stabilized assets. Digital Realty, GDS, and NTT have executed similar strategies, and Blackstone-owned AirTrunk is reportedly pursuing a comparable path. Blackstone is also establishing its own data center REIT, underscoring growing investor appetite for digital infrastructure as an asset class.
Source: datacenterdynamics
