Megaworld eyes injecting more assets into real estate investment trust MREIT

ABS-CBN News

Posted at Oct 04 2021 10:59 AM

MANILA - Megaworld Corp's real estate investment trust unit MREIT said Monday it planned to beef up its portfolio with additional office and commercial assets within the next 2 years. 

Assets from Uptown Bonifacio will be injected into MREIT in 2023 after about 100,000 square meters of assets from Eastwood City, McKinley Hill and Iloilo Business Park were added by the end of 2022, MREITs said in a disclosure to the stock exchange. 

"These prime office and commercial assets can be potentially injected into MREIT... these fresh assets can truly bulk up MREIT's portfolio, increase rental revenues and of course, grow the distribution yields for our investors," MREIT president and CEO Kevin Tan said. 

MREIT, which listed on the main index of the Philippine Stock Exchange Friday, has an initial portfolio of 10 office buildings with 224,431 sqm, the company said.

Real estate investment trust is a new financial instrument that allows even small investors to engage and earn from leasing dividends. 

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