MREIT, Inc., the real estate investment trust of Megaworld Corp., has secured regulatory approval to raise its authorized capital stock (ACS) to P8 billion from P5 billion, clearing a major hurdle as it gears up for its next round of property infusions.
The expanded ACS strengthens MREIT’s capital structure and paves the way for issuing new shares to fund upcoming acquisitions.
The company is currently evaluating 10 office properties—nine in McKinley Hill and one in Eastwood City—covering about 198,500 square meters of gross leasable area. If infused, these assets would grow MREIT’s portfolio by 41% to
roughly 680,000 square meters, up from its current 482,000 square meters.
Despite the sizable pipeline, Megaworld will still retain around 900,000 square meters of office and retail assets outside MREIT, ensuring ample options for future injection rounds.
After the next wave of office acquisitions, MREIT plans to shift gears toward adding select retail properties, aligning with its strategy to diversify income sources. The move will give investors access to Megaworld’s robust mall business, buoyed by strong occupancy and rising foot traffic—subject to proper valuations and regulatory nods.
“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, MREIT President and chief executive officer. “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 holdings span prime office assets across Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District, with a target of reaching one million square meters of GLA by 2027.
