@tanglewood The REIT Law is INCREDIBLY PERMISSIVE.
DoubleDragon can spend the money on anything involved in real estate that is income-generating, or could become income-generating, or in infrastructure projects. The only "limitation" is that it must be in projects/companies that are in the Philippines.
No sponsor is required to support its REIT. It's theoretically possible for a sponsor to "birth" the REIT in an IPO, and then never do anything to/with the REIT ever again.
That's why, for me, it's so important to see the REIT and Sponsor working together well.
That doesn't appear to be the case here with DDMPR.
DoubleDragon can spend the money on anything involved in real estate that is income-generating, or could become income-generating, or in infrastructure projects. The only "limitation" is that it must be in projects/companies that are in the Philippines.
No sponsor is required to support its REIT. It's theoretically possible for a sponsor to "birth" the REIT in an IPO, and then never do anything to/with the REIT ever again.
That's why, for me, it's so important to see the REIT and Sponsor working together well.
That doesn't appear to be the case here with DDMPR.