Megaworld's PHP 15B asset infusion is being considered by MREIT.

Business World

May 30, 2022

EXCERPT


“In line with our vision, we prepared a road map that calls for the expansion of MREIT’s property portfolio to one million square meters before the end of the decade. Given our access to Megaworld’s extensive office portfolio amounting to 1.4 million square meters, we believe that this is achievable,” Mr. Tan said.


The real estate investment trust said that it started its expansion initiative after it listed in October 2021. It had acquired four properties before the yearend for a total consideration of P9.1 billion.


“As a result of this acquisition, the company is now looking at declaring dividends equivalent to P1.00 per share in 2022, which is 6% higher than originally contemplated in the REIT plan,” MREIT said.


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