Your company started the development of this prime commercial property along EDSA and Macapagal Avenue in the Bay Area in Pasay City, Metro Manila about 6 years ago in 2015, and in 2017 the first tower was completed, and the first 4 towers was inaugurated about 3 years ago in May 2018, and now the first 6 towers are already fully completed and occupied, and most importantly today we mark a milestone for the future.
The benefits for the investors of a REIT investment is truly compelling and I would like to congratulate and thank Secretary Dominguez for paving the way for this after a long road to opening the Philippines to REIT listings. Secretary Dominguez, your efforts and decisive leadership has brought to life these REITs in the Philippines which is now starting to make its positive contribution to the economic growth of our beloved country.
Your DDMP REIT Basket is what I call the “Pamana Stock” being a stock that owns the prime freehold titled land and the grade A buildings that sit on it. While pamana is for the succeeding generations, you still get to enjoy the quarterly cash dividend benefits of your DDMPR investment as you temporarily hold it in behalf of your next generation. Based on DDMPR’s regular cash dividend cycle, the next cash dividend is up for declaration in the next 3 weeks from today.
Listing during a pandemic is definitely not a walk in the park, but we believe this is our share of also promoting a more inclusive economy, and that what we can achieve together now during these challenging, never-been-chartered territories, brought about by this pandemic, despite those challenges, your DDMPR team will still continue work hard to lift the company to greater heights while further solidifying its foundation year on year.
I was happy to have observed that it looks like the majority of the DDMPR IPO subscribers could be from thousands of provincial investors who normally just park their passive funds in bank time deposits which only earns them about 1%.
While as stated in the REIT Plan, at ₱2.25 per share, the DDMP REIT’s projected yield this year is over 5%.
I believe this DDMPR IPO is probably the first of its 14.7 Billion size IPO in the Philippines, that the pricing and direction was driven by the fragmented small and medium investors from across the country.
I would like to express my profound commitment to all our stakeholders, especially you, our retail shareholders. As a growing company, we make a series of important decisions every day, and it may never be perfect all the time, but let me tell you, that in the core of my being, you the retail guys are never – Just by the way.
As many of you would know, exactly 10 years ago this month, (I moved my business base here in Manila last March 2011) and for several years before that, I was a budding start up entrepreneur and also a retail investor like the hundreds of thousands of you trying to find its way to thrive and succeed in this hyper competitive business environment we are in, some days made worse by having to sometimes deal with some toxic predatory business practices.
As recently disclosed, over 50,000 accounts subscribed to the DDMPR REIT IPO, although we were informed that this take up is already a far record high, I still keep asking myself why, why only 50,000 when the Philippines has a population of over 100 million. I am very hopeful to see at least in my lifetime, that the access to investing would become far wider and more inclusive than it is today. Because that is the only way in which the small guys will not just always be in a situation to just wait where the few would decide which direction the wind should blow, and then, just settle on tagging along at the back of that line.
In the meantime, let us continue pushing our mission.
Your team here, being armed with grit, intense passion, and a genuine desire to spread the joy of prosperity to everyone.
We shall all grow forward together!
Maraming Salamat!
