MREIT eyes mall infusion by H2 2026
MREIT Inc., the real estate investment trust of property giant Megaworld Corp., will start infusing mall assets by the second half of 2026.
“We’re going to inject malls next year,” Kevin Tan, MREIT chair, told reporters last week when asked for updates on the company’s plan to diversify its portfolio.
Its investor relations head Andy dela Cruz said the group has yet to set a value for this retail infusion, but noted MREIT was looking at adding about 370,000 square meters.
“We are currently reviewing all the malls under Megaworld, because the goal is really to infuse everything under Megaworld,” Dela Cruz said.
He also reiterated the company’s target to hit one million square meters by 2027.
Last November, MREIT secured regulatory clearance to boost its capital stock to P8 billion from P5 billion.
This allows the firm to issue new shares and raise fresh funds to acquire properties.
In an earlier disclosure, it said 10 office assets were already being considered. These include nine office properties in McKinley Hill in Taguig City and one in Eastwood City with a combined gross leasable area of 198,500 square meters.
For these additional office assets, the official said its minimum value was estimated at P15 billion.
“By 2030, Megaworld will have three million square meters in total — two million square meters in offices, one million square meters in retail. So, by 2030, there’s at least two million square meters more that we want to put into the REIT,” Dela Cruz said.
The company’s portfolio consists of prime, income-generating office assets located within Megaworld townships such as Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.
