MREIT Inc, the real estate investment trust (REIT) of Megaworld Corp., plans to infuse mall and retail assets into its portfolio to diversify its holdings, .
MREIT said in a disclosure to the stock exchange the move is also in line with the group’s strategy to double its gross leasable area (GLA) to one million square meters by 2027.
The infusion of mall assets will enable MREIT to capitalize on growing consumer spending and strong momentum in mall leasing, complementing its current portfolio of high-occupancy office properties, it said.
“Our goal is to diversify our portfolio and expand our revenue base…we want to tap into these opportunities,” MREIT Chairman Kevin Tan said.
“This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,” he said.
Megaworld, MREIT’s sponsor, holds a portfolio of income-generating assets, including about one million sq. m. of office GLA and 500,000 sq. m. of retail GLA. These assets may be infused into MREIT over time, the company said.
Megaworld Lifestyle Malls have reported foot traffic and sales exceeding pre-pandemic levels, driven by strong leasing from both global and local retail brands. Mall occupancy hit a record high of 93 percent as of end-June 2025.
MREIT’s GLA stands at 482,000 square meters. The company expects to reach 600,000 sq. m. by the end of this year. Its portfolio includes office assets located in Megaworld’s townships such as Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park and Davao Park District.
MREIT said it remains focused on pursuing accretive acquisitions, while maintaining strong dividend payouts.
Megaworld sold 168.63 million common shares in MREIT earlier this month via a block sale valued at P2.239 billion, a deal seen as preparation for the possible next asset infusion.
