Connect with us

Hi, what are you looking for?


MREIT eyes 500,000-sq.m. leasable area by end-2024

MREIT, Inc. is planning to increase its gross leasable area (GLA) to 500,000 square meters (sq.m.) by the end of next year, the real estate investment trust (REIT) of property developer Megaworld Corp. said.

The listed company is currently waiting for the conclusion of its latest property-for-share swap, which will expand its portfolio to 325,000 sq.m. The deal, announced in April 2022, will bring an additional four prime properties worth P5.3 billion.

Once done, the company expects this to cement MREIT’s presence in the Fort Bonifacio area, which it said could command one of the highest rental rates in the country. The is also looking to expand to other high-growth geographic areas such as Cebu, Bacolod, and Pampanga.

MREIT’s operating statistics for nine months through Sept. 30, 2022 show a total GLA of 280,175 sq.m., while it leased a total of 266,965 sq.m.

The company achieved a 95% occupancy rate with total rents amounting to P2.05 billion, with its office segment accounting for 251,701 sq.m. of the total leased area.

“Diversification plans include investment in other types of real estate properties, to include industrial, logistics, warehouse, and other real property sectors that meet the company’s investment criteria,” MREIT said.

Properties that the company will be infusing into its portfolio must be Grade A, centrally located, stably occupied, and income producing.

In its three-year investment strategy, the company is aiming to achieve an annual total shareholder return of at least 10% through organic growth and acquisitions.

The unannualized total return since its initial public offering as of Nov. 29, 2022 was a negative 21.9%, while the dividend yield at share price as of the same date was 8.3%.

The listing price of MREIT was P16.10 apiece. Its share closed at P11.84 on Nov. 29, 2022.

On Tuesday, shares in MREIT declined by 24 centavos or 1.66% to P14.24 apiece. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



CODY LOGAN/WIKIMEDIA COMMONS SYDNEY — The Australian government will examine surveillance technology used in offices of the defense department, Defence Minister Richard Marles said...


The north view of the Manhattan skyline is seen from the 86th floor observation deck of the Empire State Building in midtown Manhattan, New...


HONG KONG — The world should “calm down” about the possibility of new COVID-19 variants circulating in China, leading Chinese scientist George Gao said....


Image by Marco Verch/CC BY 2.0 Medical advances have made cancer treatable even at stage 4, or when the disease has spread to other...


BW FILE PHOTO Thanks to the global financial crisis of 2007-2009, the world is many times richer in valuable lessons to avoid another crisis....


PRESIDENT FERDINAND R. MARCOS, JR. welcomes United States Defense Chief Lloyd Austin III at Malacañang Palace on Feb. 2. — NOEL B. PABALATE/PPA POOL...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.