MREIT Inc., the real estate investment trust (REIT) arm of Megaworld Corp., posted strong financial results for the first half of 2025, with net income surging 31 percent to P1.92 billion, up from P1.46 billion a year ago. Revenue also climbed 28 percent to P2.7 billion, buoyed by the performance of six newly acquired office assets, consistent rental escalations, and resilient occupancy rates across its portfolio.
In the second quarter alone, income grew 31 percent to P965.79 million, while revenue jumped 32 percent to P1.36 billion, underscoring MREIT’s stable performance amid strong demand for Grade A office space.
President and CEO Jose Arnulfo C. Batac attributed the robust growth to the expanding scale and resilience of MREIT’s assets. “We are well-positioned to capitalize on the robust demand for Grade A office spaces and further diversify into complementary asset classes,” Batac said.
The company currently owns 24 office properties in five Megaworld townships, including Eastwood in Quezon City, McKinley Hill and McKinley West in Taguig, Iloilo Business Park, and Davao Park District. MREIT now aims to hit 1 million square meters of gross leasable area (GLA) by 2027, three years earlier than previously targeted.
To support its accelerated growth, MREIT’s board has endorsed a capital increase and the issuance of up to 1.36 billion primary common shares, subject to stockholder approval in September. This will include a proposed hike in authorized capital stock from P5 billion to P8 billion, paving the way for further infusion of prime, income-generating properties into the REIT.
Chairman Kevin Andrew L. Tan emphasized the strategic alignment of the capital-raising effort with MREIT’s long-term vision. “Accelerating our 1 million sqm GLA target to 2027 aligns with our vision of building a REIT that grows faster and delivers more value than expected,” he said.
As sponsor, Megaworld Corp. plans to grow its office GLA to 2 million sqm and retail GLA to 1 million sqm by 2030, ensuring MREIT’s continued access to a robust pipeline of prime real estate assets.
