Revenues for July to September soared 42 percent to P1.43 billion, boosted by the full-quarter contribution of six office properties acquired in 2024. Higher tenant occupancy and steady rental rate increases further strengthened portfolio performance, the company said in a statement.
For the first nine months of 2025, distributable income expanded 27 percent to P2.8 billion, while revenues climbed 33 percent to P4.13 billion, supported by solid tenant demand across its key township locations and cost efficiencies executed throughout the portfolio.
Occupancy climbs, setting stage for next expansion wave
MREIT closed the third quarter with a 92-percent portfolio occupancy rate, up about 300 basis points from the previous quarter. The increase was driven by the onboarding of both traditional and BPO tenants across its major office towers, underscoring the sustained recovery in demand for high-quality workspaces.
The company is also awaiting regulatory approval to hike its authorized capital stock to P8 billion from P5 billion, a move that will enable a new round of property infusions.
MREIT is eyeing 10 office assets—nine in McKinley Hill and one in Eastwood City—covering 198,500 square meters of gross leasable area (GLA). Once completed, the infusion will expand MREIT’s footprint by 41 percent to 680,000 sqm from the current 482,000 sqm.
Beyond offices, MREIT is preparing to acquire several mall assets from Megaworld to diversify its portfolio and give investors exposure to the strong retail performance of Megaworld Lifestyle Malls.
Dividend yield hits 7.3%
On the back of its improved performance, MREIT declared cash dividends of P0.250478 per share, payable on Dec. 19, 2025 to shareholders of record as of Dec. 1. This translates to an annualized dividend yield of 7.3 percent, based on the closing price of P13.66 on Nov. 12.
“Our strong performance reflects the resilience of our office portfolio and our readiness for the next wave of growth,” president & CEO Jose Arnulfo Batac said.
MREIT targets to reach one million square meters of GLA by 2027, leveraging Megaworld’s pipeline of income-generating assets. —Ed: Corrie S. Narisma
