Megaworld's MREIT to acquire 4 PEZA-accredited properties

ABS-CBN News

Posted at Nov 16 2021 04:02 PM

MANILA - Megaworld's MREIT Inc said Tuesday it would acquire 4 properties that are accredited by the Philippine Economic Zone Authority (PEZA) by December.

It is finalizing the acquisition of Two Techno Place, Three Techno Place and One Global Center, located in Iloilo Business Park as well as the World Finance Plaza in McKinley Hill in Fort Bonifacio, Taguig, MREIT said in a disclosure to the stock exchange.

The 4 properties have a combined gross leasable area (GLA) of 224,431 square meters to 280, 131 sqm, it said.

"We remain steadfast in our vision of making MREIT one of the largest office REITs not only in the Philippines, but in the Southeast Asian region as well, and this acquisition is but the first step to realizing the significant growth potential of the company," MREIT president and CEO Kevin Tan said.

"The quality of growth is also important to us. That's why we are very deliberate in choosing which properties to acquire," he added.

MREIT, which listed on the main index of the Philippine Stock Exchange in October, earlier said it plans to infuse around 100,000 sqm of additional office space before the end of 2022.

Its initial portfolio consists of 10 prime office buildings covering around 224,431 sqm.

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