Emperador Properties, the $1-billion personal real estate investment company of tycoon Dr. Andrew L. Tan, is going public as the first and only Filipino company to be listed in the Spanish stock exchange.
In a statement, the firm said it became a REIT (known as SOCIMI in Spain) in September 2021. It will officially list in Spain's BME Growth Stock Exchange on December 19.
Currently, the company has three wholly owned, top-notch development assets: the 57-storey Torre Emperador Castellana and the 35-storey Torre Caleido Shopping Center both in Madrid, and the 23-storey 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.
"To be listed in the Spanish Stock Exchange is, for any company, an important milestone. 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 Emperador Properties Chief Executive Joan Cortés Vilardell.
Emperador Properties will be offered on BME Growth’s SME Stock after receiving approval from the Market Coordination and Incorporation Commission.
This body considers that the company meets the requirements for trading on BME Growth, which will be listed under the "YEPSA" ticker.
This listing at 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.
Designed by Pei Cobb Freed & Partners, one of the most prestigious and award-winning architecture firms in the world, Torre Emperador Castellana enjoys a privileged location in Madrid's financial center, number 259D of Paseo de la Castellana.
Currently, it stands as one of Spain's tallest, most iconic, and most exclusive buildings that dot Madrid’s skyline.
Its floor spaces range anywhere from 1,200 square meters per floor at the higher levels to 1,600 square meters for the lower levels. It also features six parking levels offering more than 1,270 parking spaces.
Meanwhile, Torre Diagonal One stands as an iconic landmark in Barcelona. The tower is designed by award-winning architect Enric Massip-Bosch, who founded the acclaimed Barcelona-based design firm EMBA_ESTUDI MASSIP-BOSCH ARCHITECTS.
Torre Diagonal One is located in the 22nd district of Barcelona, one of Spain’s major financial centers surrounded by public transport and other modes of mobility, as well as a museum, a shopping hub, and even a beach.