Emperador Properties lists on Spanish bourse

MANILA, Philippines — Tycoon Andrew Tan is making a mark in Spain as the first Filipino company to debut in the Spanish bourse.

Emperador Properties, the real estate investment company of Tan, which became a real estate investment trust in September last year, will join Spain’s BME Growth Stock Exchange on Dec. 19.

Joan Cortés Vilardell, Emperador Properties CEO, said to be listed in the Spanish Stock Exchange is an important milestone for any company.

“We are looking forward to seeing how Emperador Properties evolves in this new stage. Our commitments to our employees, tenants and partners remain as present as always in our day-to-day life,” said Vilardell.

At present, Emperador Properties, which is not related to Tan’s Philippine-listed liquor company Emperador Inc., has three wholly owned development assets.

These are the 57-story Torre Emperador Castellana and the 35-story Torre Caleido Shopping Center both in Madrid, and the 23-story Torre Diagonal One in Barcelona.

Of these developments, only two – Torre Emperador Castellana and Torre Diagonal One, which have a combined gross leasable area (GLA) of 86,719 square meters – are listed as REIT assets of Emperador Properties.

Emperador Properties will be offered on BME Growth’s SME Stock after receiving approval from the Market Coordination and Incorporation Commission.

This listing in the Spanish Stock Exchange now gives Emperador Properties a bigger platform to achieve a more efficient financing mechanism to increase its capacity of capturing more real estate resources to finance its future growth.

Additionally, the company aims to provide a liquidity mechanism for shareholders, and to facilitate a new system for objective valuation of shares, increasing both the company’s visibility and transparency compared to third parties.

Emperador Properties is focused on investments in real estate assets in Spain and is characterized by the creation of long-term value.

“Its business focuses on the acquisition and management of prime properties, especially office rental, flexible spaces, and retail,” it said.

In the Philippines, Tan’s conglomerate include property, food, infrastructure, liquor and gaming and hospitality.