MREIT Q3 distributable income doubles to P1.93B after asset deals

Insider Spotlight

• MREIT's third-quarter distributable income surged 106 percent to P1.93 billion following more than P43 billion in asset infusions.
• Quarterly dividends increased 10 percent year-on-year to P0.2762 per share, equivalent to an annualized yield of 8.1 percent.
• MREIT is considering additional Megaworld properties in Uptown Bonifacio for its next acquisition wave.

Megaworld-backed MREIT Inc. more than doubled its distributable income in the third quarter of 2026 after a P43-billion property expansion program nearly doubled its leasable portfolio, lifting revenues and cash dividends.

In a press statement on Monday, Oct. 22, 2026, the company said distributable income climbed 106 percent to P1.93 billion from a year earlier, while revenue surged 90 percent to P2.71 billion.

Driving the growth

The increases followed MREIT's fourth and fifth waves of asset infusions, completed during the first quarter and effective July 1, respectively. Together, the transactions added more than P43 billion in properties and expanded gross leasable area to about 951,000 square meters from 482,000 square meters.

MREIT said the asset additions represented the largest infusion value among Philippine Stock Exchange-listed REITs during the period.

The latest round added five malls — Festive Walk Mall, Lucky Chinatown Mall, Venice Grand Canal Mall, Eastwood Mall and Southwoods Mall — broadening a portfolio previously concentrated in offices.

Jose Arnulfo Batac

The MREIT chief said every asset infusion will provide meaningful growth to shareholders.

MREIT now counts 77 percent of its leasable area in offices, 20 percent in retail and three percent in hotels, across nine Megaworld townships. Portfolio occupancy remained above 90 percent.

Shareholders benefit

The company declared a third-quarter cash dividend of P0.2762 per share, up 10 percent from P0.25048 a year earlier and five percent from P0.263 in the preceding quarter.

At MREIT's Oct. 22 closing price, the dividend translated to an annualized yield of 8.1 percent. Shareholders on record Nov. 10 will receive the payment Nov. 20.

“We committed to making each asset infusion translate into meaningful growth in dividends per share, and Waves 4 and 5 delivered on that commitment,” MREIT president and CEO Jose Arnulfo Batac said.

Next acquisition wave

Distributable income for January through September climbed 58 percent to P4.42 billion, with revenue rising 48 percent to P6.13 billion. Dividends for the nine-month period totaled P0.80215 per share.

MREIT is evaluating properties at Megaworld's Uptown Bonifacio for a sixth infusion, although the company has yet to finalize the assets, terms or timetable. Any deal will require due diligence, valuation and regulatory approvals.

— Edited by Daxim L. Lucas