MREIT, Inc., the real estate investment trust arm of property giant Megaworld Corporation, has announced that it has received regulatory approval to increase its authorized capital stock (ACS) from P5 billion to P8 billion.
This milestone enables the company to advance its plans for property acquisitions and portfolio expansion.
The ACS increase strengthens MREIT’s capital framework, allowing the company to issue new shares for future acquisitions.
As part of its growth strategy, MREIT is evaluating the infusion of 10 office properties—nine located in McKinley Hill and one in Eastwood City—totaling approximately 198,500 square meters of gross leasable area.
Once completed, this infusion will expand MREIT’s portfolio by 41%, increasing its total gross leasable area (GLA) from 482,000 square meters to 680,000 square meters.
Megaworld, MREIT’s sponsor, retains approximately 900,000 square meters of office and retail assets that are not yet part of MREIT, ensuring a robust pipeline for future growth.
Following the office acquisitions, MREIT plans to diversify its portfolio by including select retail assets, leveraging Megaworld’s strong mall business with record-high occupancy rates and sustained growth in foot traffic.
This diversification aims to enhance income streams and long-term stability for investors.
“With the approval of our ACS increase, we are now structurally positioned to pursue the next phase of our growth strategy,” said Jose Arnulfo C. Batac, President and CEO of MREIT, Inc. “This milestone allows us to prepare for fresh acquisitions that will further scale our portfolio and support long-term value creation for our shareholders.”
MREIT’s portfolio currently consists of prime, income-generating office assets located in Megaworld townships such as Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.
The company remains committed to delivering stable dividends and accretive acquisitions as it works toward its target of one million square meters of GLA by 2027.
