MREIT, Inc., the real estate investment trust of township developer Megaworld Corporation, delivered strong first-quarter results in 2025, posting a 26% year-on-year increase in distributable income to ₱932 million from ₱742 million in the same period last year. Revenues also rose 25% to ₱1.34 billion, up from ₱1.08 billion in the first quarter of 2024.
This robust performance was fueled by the full-quarter contribution of six newly acquired, PEZA-accredited office assets added in late 2024, coupled with sustained rental escalations across MREIT’s high-quality portfolio.
“This solid start to the year demonstrates the strength of our expanded portfolio and the continued demand for prime office spaces in our strategically located townships,” said Kevin L. Tan, President and CEO of MREIT, Inc. “We remain focused on optimizing returns from our existing assets while pursuing further acquisitions aligned with our long-term growth strategy.”
Following the strong quarterly results, MREIT declared a cash dividend of ₱0.25047 per share, payable on June 6, 2025, to stockholders of record as of May 23, 2025. Based on the May 7 closing price of ₱13.58 per share, this represents an annualized dividend yield of 7.4%.
MREIT’s gross leasable area (GLA) now stands at 482,000 square meters—a 48% increase following its Wave 3 acquisition last year. Its portfolio currently includes 24 premium office properties located within five of Megaworld’s premier townships: Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.
As part of its long-term strategy, MREIT aims to expand its GLA by approximately 100,000 square meters annually. This trajectory is expected to bring the company closer to its goal of 1 million square meters of GLA by 2030, reinforcing its position as one of the largest office REITs in the Philippines.
