Filinvest REIT Corp. (FILRT) proudly represented the Philippines as it clinched the ‘Most Sustainable REIT’ award within its market capitalization category (under $500 million) at the well-attended 9th Annual REITs and Real Estate Investment Summit Asia Pacific 2024™ held in Singapore.
The Pinnacle Group International, in collaboration with Sustainable Technology Center (Singapore) Limited, brought together over 150 industry leaders, investors, and innovators in the REIT sector all over Asia Pacific.
The REIT summit featured the Asia Pacific Best of the Breeds REITs & Real Estate Investment Awards 2024 to honor outstanding companies and REIT managers with the highest standards and performance for leadership, financial expertise and innovation toward having a sustainable impact on the REIT industry, including those from mature REIT environments like Singapore and Malaysia.
“Receiving the ‘Most Sustainable REIT’ award is an honor that elevates our role in advancing sustainable practices within the industry,” said Maricel Brion-Lirio, president and chief executive officer of FILRT.
“This recognition underscores our commitment to integrating sustainability into our core strategies, demonstrating that environmental responsibility and profitability can coexist. By prioritizing ecofriendly practices, we enhance our portfolio’s value while positively impacting the communities we serve,” she added.
The winners of the ‘Most Sustainable REIT’ awards were evaluated based on exceptional environmental initiatives, comprehensive sustainability reporting and high transparency, and significant community impact. The awards were presented by Professor Ong Seow Eng from the National University of Singapore who shared the sector’s continued evolution through sustainable practices and technological advancements.
FILRT bested other comparable companies by size from Singapore, Malaysia, Philippines, and Taiwan. FILRT is one of only two Philippine companies that were recognized during the awards ceremony.
Singapore, where the awards ceremony was held, is one of the frontrunners in the REIT industry, having the largest REIT market in Asia (ex-Japan). Singapore has over 42 active REIT companies in six sub-categories – ranging from Healthcare, Hospitality, Retail, Office, Commercial and
Industrial. Total market capitalization of the industry stands at approximately $74.4 million or about 12 per cent of the capitalization of the Singapore Exchange (SGX).
