Vitro, Inc., the data center arm of PLDT, Inc., is considering listing some of its facilities through a real estate investment trust (REIT) as its parent company looks to cut debt.
“We are really taking a look at the new SEC (Securities and Exchange Commission) rules, what classifies as a new real estate investment trust in relation to data centers.
It is for us to understand the rules and how to properly engage in such an option,” Vitro President Victor Genuino said in an interview with reporters on Thursday.
Only mature data centers—those running for more than three years—can be listed. From Vitro’s nine centers, this limits the options to its older facilities.
The decision followed failed talks with potential buyers who wanted majority control of the business.
“It’s clear to us that if we want to take this route of monetizing our asset, selling it to an interested third party for a majority is not going to happen. So we want to keep control of our assets because we think this is going to be a catalyst for growth,” Genuino said.
PLDT’s consolidated gross debt rose from P256.9 billion in 2023 to P296.9 billion by the end of 2025.
The company has P16.6 billion due this year and P27.9 billion in 2027. Proceeds from the REIT listing are expected to help manage these obligations.