Megaworld-backed MREIT is accelerating its expansion plans, with the company aiming to grow its gross leasable area (GLA) portfolio to at least one million square meters by 2027 — three years ahead of its original target.
Speaking during the Philippine Stock Exchange STAR Investor Day on Thursday, MREIT Investor Relations head Andy dela Cruz said the real estate investment trust is now entering a phase of “accretive scaling,” where future acquisitions are expected to directly enhance shareholder value.
The company’s planned Wave 5 asset infusion, scheduled for the second half of 2026, is expected to increase MREIT’s portfolio to at least 750,000 square meters. The expansion will be driven largely by the addition of lifestyle mall assets, broadening the REIT’s exposure beyond office properties.
“Beyond Wave 5, we remain on track to hit at least one million square meters of GLA by 2027, which is three years ahead of our original plan of reaching one million square meters by 2030,” dela Cruz said.
MREIT also highlighted the strength of its sponsor pipeline. Parent firm Megaworld currently holds around 615,000 square meters of office assets available for future infusion, while affiliate companies own nearly one million square meters of stabilized office properties, with another 90,000 square meters still under development.
The company sees additional growth opportunities in the retail and hospitality segments. MREIT presently owns around 26,000 square meters of retail space, while the wider Megaworld alliance has approximately 490,000 square meters more and another 150,000 square meters under construction.
Dela Cruz added that more than 3,600 hotel room keys across the group could eventually be folded into the REIT structure through fixed lease arrangements, further diversifying MREIT’s recurring income base.
