REIT ASIAPAC
Cover Story
INTERVIEW : CITICORE REIT BELIEVES THE FUTURE IS BRIGHT FOR RENEWABLE ENERGY INVESTMENTS
REITAsiaPac talks to Oliver Tan , the President and CEO of the Philippines ’ first sustainable energy REIT about the prospects of clean energy in the market
Photo : Oliver Tan , the President and CEO of Citicore REIT
Recent global developments have highlighted the need for renewable energy sources across the globe . First , the Covid-19 pandemic has shifted the public ’ s mindset towards sustainability . Second , and more recently , Russia ’ s invasion of Ukraine – which subsequently led to sharply higher oil prices – have shown the economic disadvantages of being dependent on one source of energy .
In the Philippines , where the REIT market is at its infancy and is predominantly focused on office assets , the country ’ s first renewable energy REIT entered the market in March .
Citicore REIT is engaged in renewable energy generation and property leasing , both from leasehold and freehold land assets . Its portfolio comprises eight solar assets within close proximity to key metropolitan areas per island group in the Philippines .
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