Mreit, Inc., the real estate investment trust of property developer Megaworld Corp., reported a 29 percent jump in income to P935 million in the third quarter of 2025, up from P719.58 million a year earlier. The growth was driven by six newly acquired office properties, higher occupancy, and sustained rental escalations.
Revenues for the quarter rose 42 percent to P1.43 billion from P1 billion in the same period last year. For the first nine months of 2025, distributable income increased 27 percent to P2.8 billion, while revenues climbed 33 percent to P4.13 billion. Portfolio occupancy improved to 92 percent by end-September, up around 300 basis points from the previous quarter, supported by the onboarding of traditional and BPO tenants.
Mreit is seeking regulatory approval to raise its authorized capital stock from P5 billion to P8 billion, enabling acquisitions of 10 additional office properties in McKinley Hill and Eastwood City, totaling 198,500 square meters. The company also plans to acquire mall assets to diversify its portfolio, potentially expanding total leasable area by 41 percent to 680,000 square meters.
CEO Jose Arnulfo Batac said the results reflect the “resilience of [Mreit’s] office portfolio” and readiness for further growth amid improving market conditions. Following its Q3 results, Mreit declared cash dividends of P0.250478 per share, payable December 19, translating to an annualized yield of 7.3 percent based on the November 12 closing price of P13.66 per share.
