MREIT Inc., the real estate investment trust of property developer Megaworld Corp., said Wednesday that its distributable income surged 29 percent year-on-year to P935 million in the third quarter of 2025 on acquisition portfolio strength and sustained rental escalations.
It said nine-month distributable income also increased 27 percent to P2.8 billion as revenues grew 33 percent to P4.13 billion. Revenues for the third quarter rose 42 percent to P1.43 billion.
The strong third-quarter performance was fueled by the full contribution of six newly-acquired office properties in 2024, increased occupancy and sustained rental escalations.
MREIT’s portfolio occupancy improved to 92 percent as of end-September 2025, marking a 300-basis-point increase from the previous quarter. The company attributed the rise to the successful onboarding of traditional and business process outsourcing tenants.
Following its strong third-quarter results, MREIT declared cash dividends of P0.250478 per share payable on Dec. 19 2025. This translates to an annualized dividend yield of 7.3 percent, based on the last closing price of P13.66 per share as of Nov. 12, 2025.
MREIT said it is preparing for its next wave of expansion with plans to acquire 10 office properties—nine buildings in McKinley Hill and one in Eastwood City—with a combined gross leasable area of about 198,500 square meters.
The company is anticipating regulatory approval to increase its authorized capital stock to P8 billion from P5 billion to enable these infusions.
Once completed these assets will expand MREIT’s portfolio by about 41 percent to 680,000 square meters from the current 482,000 square meters.
Following this round of office infusion, MREIT also plans to begin the acquisition of several mall assets to diversify its portfolio further.
“Our strong performance this quarter reflects not only the resilience of our office portfolio but also our readiness for the next wave of growth,” said MREIT president and chief executive Jose Arnulfo Batac.
He said that with market conditions turning more favorable, the company is “well-positioned to pursue our long-term expansion plans and deliver sustained value to our shareholders.”
MREIT targets to expand its gross leasable area to one million square meters by 2027.
