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Philippine call center landlord Megaworld eyes $567m REIT

Alliance Global unit joins other local developers in race to raise funds

Megaworld is the fifth Philippine company to announce it will tap the new instrument of real estate investment trusts. (Source photos by Hirofumi Yamamoto and screenshot from Megaworld's website)

MANILA -- Philippine developer Megaworld, a top lessor of office space for call centers and other outsourcing companies, plans to raise up to 27.3 billion pesos ($567 million) in the country's largest real estate investment trust offering.

Megaworld is the fifth local real estate company to formally announce it will tap the new investment instrument to build a war chest for post-pandemic recovery. Two of those developers have already listed their REITs on the Philippine Stock Exchange.

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