Citicore Energy REIT Corp. (CREIT) said Friday it submitted a three-year investment strategy to the Philippine Stock Exchange to boost lease revenues and net income through an expanded portfolio of renewable energy real estate.
The first renewable energy real estate investment trust in the Philippines said its principal strategy is to invest in income-generating properties to become the largest renewable energy landlord in the country.
Citicore Fund Managers Inc. prepared the document in compliance with the implementing rules and regulations of the Real Estate Investment Trust Act of 2009.
CREIT said a core tenet of the investment policy is to acquire properties that meet specific criteria designed to provide competitive returns to investors.
Potential sites should be suitable for solar power plants or other renewable energy technologies and be located in underdeveloped areas where resources are validated and land value is expected to appreciate through future developments.
The company revised its investment criteria by removing the requirement for properties to have achieved successful plant testing, commissioning and stable offtake contracts for 100 percent of power output.
This is intended to accelerate the inclusion of new investments into the REIT.
With the revised criteria, the company will be able to realize lease income earlier because renewable energy properties can now be leased to developers during the construction stage.
This provides an earlier income stream to shareholders compared to waiting for a plant to become operational.
Upon successful plant commissioning and the securing of offtake contracts, the company retains an option to purchase the power plant itself and lease it back to the operator.
While CREIT intends to hold properties long term, it may consider divesting mature or noncore assets to free up capital for new properties that meet its investment criteria.
The company said it would leverage the Citicore Group market knowledge and industry relationships to explore synergies and growth avenues. As of Sept. 30, 2025, public shareholders owned 38.22 percent of CREIT shares while SM Investments Corp. held 28.79 percent and parent firm Citicore Renewable Energy Corp retained 32.99 percent.
