In a statement, the pension fund manager said it is anticipating better income returns amid boosts in its REIT investments for 2024.MANILA, Philippines — State-run Social Security System is ramping up its investments in real estate investment trusts as market conditions improve amid expectation of policy easing toward the end of the year.
A REIT is a stock corporation that allows the public to invest and trade in income-generating real estate assets. The Bangko Sentral ng Pilipinas is widely anticipated to ease policy rates by the fourth quarter. Some are even penciling a rate cut as early as the third quarter. REITs are expected to be among the top contributors to SSS investment income for 2024 amid attractive dividend yields higher than the prevailing benchmark rates.
The measure will also empower local government units by enhancing their capacity to generate local revenues from real property. For a country that wants a flourishing tourism industry and to attract foreign investors, we have failed to welcome our guests at our airports in a manner that would leave a good first impression. On the contrary,...