Imaging tech project for durian great help to farmers, DA says

SM Prime Holdings eyes

$1-B REIT listing by H2

The country’s largest mall operator SM Prime Holdings, Inc. aims for a real estate investment trust (REIT) listing in the second half of the year to raise USD1 billion.

SM Prime president Jeffrey Lim made the announcement during the company’s annual stockholders’ meeting in Pasay City Tuesday.

Lim said they have started the process of incorporating the REIT company and are now in discus- sion with its advisers, including banks, accounting and legal.

TheDepartment of Agriculture in the Davao Region (DAS-11) is fully supporting the innovative project of researchers to develop an imaging technology to determine the ripeness of durian fruits.

The venture is funded under the industry-level Collaborative Research and Development to Leverage Philippine Economy program or i-CRADLE of the DOST S4CP.

“We can launch the REIT by the second half of this year, of course subject to market conditions, especially now that interest rates still keep on moving up,” he said.

In a press conference, Lim said the total valuation for its REIT listing will be around USD3.5 billion to USD4 billion.

He said the company’s REIT

FSM, P10