MREIT eyes P15 billion worth of fresh property infusion

ABS-CBN News

Posted at May 30 2022 02:41 PM

MANILA - MREIT Inc on Monday said it was discussing an additional infusion of P15 billion worth of commercial assets with Megaworld Corp. 

"For our next infusion, we are already considering properties from townships in key growth areas outside of Metro Manila where MREIT does not have a presence yet," MREIT president and CEO Kevin Tan said. 

"This will further diversify our portfolio and allow us to tap into other growth centers around the country," he added.

The real estate investment trust company said it has a roadmap that includes the expansion of MREIT's property portfolio to 1 million square meters before the end of the decade. 

With access to sponsor Megaworld's 1.4 million sqm office portfolio, Tan said this goal is likely achievable.

This year, Tan said the company aims to acquire up to P20 billion worth of office properties.

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