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Richmond Mercurio - The Philippine Star
June 23, 2025 | 12:00am
Megaworld executive director Kevin Tan said the company is aiming make MREIT as “one of the largest and most dynamic REITs in the region.”
File
MANILA, Philippines — Property giant Megaworld Corp. is planning to inject not only more office assets into MREIT Inc., but also mall developments in a bid to bolster the latter’s portfolio and make it among the region’s biggest real estate investment trust (REIT) companies.
Megaworld executive director Kevin Tan said the company is aiming make MREIT as “one of the largest and most dynamic REITs in the region.”
He said this would be supported by the solid assets and reputation of Megaworld as a developer.
“We are very excited to do more and achieve more, particularly with Megaworld’s robust portfolio of having nearly 1.7 million square meters of office spaces and more than half a million square meters of retail spaces under its umbrella,” Tan said.
“This potential pipeline will be instrumental in reinforcing MREIT’s future portfolio with premium office and mall developments, while also allowing Megaworld to invest more and capitalize on high growth opportunities in key areas across the country,” he said.
MREIT is actively assessing new acquisition opportunities to sustain its growth trajectory and move closer to its long-term goal of achieving one million square meters of gross leasable area (GLA) by 2030.
MREIT’s portfolio comprises 24 prime office properties strategically located in five Megaworld premier townships – Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park and Davao Park District.
Its GLA currently stands at 482,000 square meters.
MREIT plans to expand its GLA by approximately 100,000 square meters annually to support its long-term growth target.
The strategy will bring the company closer to its goal of reaching one million square meters of GLA by 2030.
In terms of retail assets, Megaworld currently has a portfolio of 22 lifestyle malls located in its townships.
Megaworld’s township growth serves as forerunner for the group’s mall growth.
The company plans to launch a new mall this year as it looks to jack up its position in the country’s mall segment and boots its retail leasing portfolio.
