Fourth-quarter distributable income surged 37 percent to P969 million, fueled by its P13.15-billion acquisition of six PEZA-accredited office buildings that expanded its portfolio by 156,000 square meters, pushing total leasable space 48 percent higher to 482,000 square meters.
Management shares outlook
“We are actively assessing new acquisition opportunities to sustain MREIT’s growth trajectory and move closer to our long-term goal of achieving one million square meters of GLA by 2030,” said MREIT president and CEO Kevin Tan.
“Our commitment to operational excellence and strategic expansion will continue to drive strong performance and increased dividends for our investors,” he added.
Robust performance
Revenues jumped 34 percent to P1.4 billion, reflecting the company’s growing rental base and aggressive expansion strategy.
For the full year, distributable income climbed 12 percent to P3.2 billion, while revenues rose 9 percent to P4.5 billion, supported by rental escalations and new asset contributions.
MREIT maintained a 91 percent occupancy rate, outpacing the Metro Manila average, thanks to strong demand from BPO firms and corporate tenants.
MREIT’s portfolio comprises 24 prime office properties strategically located in five Megaworld premier townships: Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.
