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Fast-food king Jollibee eyes Philippines' first 'industrial REIT'

Restaurant group partners with Double Dragon to list real estate trust next year

MANILA -- Philippine fast-food giant Jollibee Foods is teaming up with Double Dragon Properties to set up the country's "first and largest industrial real estate investment trust," the companies announced on Thursday.

Jollibee is the latest Philippine company moving to tap the nascent market for REITs to fund its post-pandemic recovery. Major property developers began lining up for REIT listings on the Philippine Stock Exchange last year after the government relaxed public ownership and tax rules.

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