PLDT eyes $400 million in data center listing

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June 10, 2026 | 12:00am

MANILA, Philippines —  The Philippine Stock Exchange (PSE) will welcome its first data center listing this year, as telco giant PLDT Inc. eyes entry into the real estate investment trust (REIT) space to raise up to $400 million.

PLDT’s board of directors yesterday approved the plan to undertake a potential listing for its data center arm VITRO Inc., aiming to capture prospective investors in the digital space.

PLDT chairman, president and CEO Manuel V. Pangilinan said the telco targets to raise between $300 million and $400 million, and proceeds will be used to bring down debts.

VITRO manages 11 data centers across the archipelago, the largest of which is VITRO Sta. Rosa, designed with a 50-megawatt capacity. However, VITRO will include just eight of its data centers in the initial portfolio, but will add more depending on the demand.

In listing VITRO as a REIT, PLDT will develop an investment book made up of data centers, the first of its kind in the Philippines. Subject to regulatory approvals, the telco also plans to support VITRO by infusing it with more assets in the future.

VITRO president and CEO Victor Genuino said PLDT is unlocking the value of its new projects in its push to list a REIT, especially as demand for data centers is expected to only increase from here on.

“VITRO has built a leading data center platform in the Philippines, and a potential REIT listing would allow us to further strengthen this platform while creating new opportunities for investors to participate in the growth of the digital infrastructure sector,” Genuino said.

VITRO’s listing as a REIT will require regulatory approvals from the Philippine Stock Exchange and the Securities and Exchange Commission. PLDT also tapped investment giants UBS AG and BPI Capital Corp. to assist in the development of the listing structure.

VITRO’s data centers are becoming a revenue driver for PLDT, recording a colocation growth of 15 percent in 2025. VITRO has been able to increase the occupancy rate of its data centers to 74 percent.

PLDT’s information and communications technology revenues, including gains made by VITRO, reached P36.3 billion last year, covering 75 percent of PLDT’s enterprise income.

The world has seen a rise in data center demand recently, as these projects store applications and information of tech giants like Amazon, Google and Meta.