• Distributable income climbed 18 percent to P3.7 billion
• Revenue advanced 24 percent to P5.6 billion
• Wave 4 deal to add 165,500 sqm of offices
• Dividend yield at 7% based on latest close
Tycoon Kevin Tan-led MREIT Inc. posted an 18 percent rise in full-year distributable income to P3.7 billion in 2025, supported by higher occupancy and sustained leasing across its office portfolio.
Revenue of the real estate investment trust unit of Megaworld Corp. increased 24 percent to P5.6 billion, driven by stronger rental collections and contributions from newly infused assets.
The growth was largely backed by recurring operations, reinforcing the stability of cash available for distribution.
Expansion catalyst
MREIT is awaiting regulatory approval for its Wave 4 property-for-share swap, expected within the first half of 2026.
The transaction covers nine Grade A office buildings in McKinley Hill, Taguig, adding about 165,500 square meters of gross leasable area. More than 80 percent of the portfolio is leased to Global Capability Center tenants, typically operating under long-term mandates and lower relocation risk, strengthening income visibility.
“Our 2025 results demonstrate the strength of our platform and the consistency of our execution,” said Jose Arnulfo C. Batac, president and CEO of MREIT, Inc.
“Wave 4 marks our transition toward a more disciplined and accretive phase of growth. We remain focused on expanding our portfolio in a way that strengthens long-term income sustainability for our shareholders.”
Dividends and outlook
MREIT declared cash dividends of P0.250478 per share, payable March 26, 2026, to stockholders on record as of March 16.
The payout implies an annualized dividend yield of 7.0 percent based on the February 26 closing price of P14.26 per share.
Beyond Wave 4, MREIT is preparing another phase of expansion later this year, including potential diversification into select mall assets, as it works toward its target of one million square meters of gross leasable area by 2027.
—Edited by Miguel R. Camus
