MREIT, Inc., the real estate investment trust (REIT) arm of property giant Megaworld Corporation, is advancing its long-term strategy to diversify its portfolio by incorporating mall and retail assets.
This initiative aims to double its gross leasable area (GLA) to one million square meters by 2027.
The move comes as MREIT seeks to capitalize on the continued growth in consumer spending and the strong momentum in mall leasing, complementing its established base of high-occupancy office assets.
“Our goal is to diversify our portfolio and expand our revenue base.
While the country is experiencing impressive growth in consumer activities, we want to tap into these opportunities.
This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,” said Kevin L. Tan, Chairman of MREIT, Inc.
Megaworld, MREIT’s sponsor, holds a substantial portfolio of income-generating assets, including approximately one million square meters of office GLA and 500,000 square meters of retail GLA.
These assets provide a deep pipeline for future infusions into MREIT, ensuring flexibility and a long-term growth runway as the company accelerates toward its one million square meter target.
Nationwide, foot traffic and sales in Megaworld Lifestyle Malls have already surpassed pre-pandemic levels, driven by strong leasing activities from both global and homegrown brands.
Mall occupancy reached a record 93% as of June 2025, creating a favorable environment for MREIT’s strategy to integrate more retail assets into its portfolio.
This approach ensures the company captures both the growth of business process outsourcing and the resurgence of Philippine consumer spending.
MREIT’s current portfolio spans key Megaworld townships, including Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District, with occupancy rates consistently among the highest in the industry.
The company remains committed to expanding its portfolio through accretive acquisitions while maintaining strong dividend payouts to investors.
