The deal will expand the company’s portfolio by more than 303,900 square meters to over 950,000 square meters, putting it within reach of its one million-square-meter target.
MREIT and Megaworld are part of listed conglomerate Alliance Global Group, which is led by president and CEO Kevin Tan.
Key details
Management’s view
“As we scale, we remain focused on driving cost efficiencies across the portfolio,” MREIT president and CEO Jose Arnulfo Batac said in a statement on Monday.
“This provides a clear path to margin improvement and, in turn, dividend-per-share accretion for shareholders. MREIT’s next phase of growth is about building a larger, more diversified platform that drives long-term value for shareholders,” he added.
Moving beyond offices
The acquisition marks MREIT’s biggest diversification yet, reducing its dependence on office buildings by adding shopping malls and a hotel to its portfolio.
The transaction is MREIT’s fifth wave of asset infusions.
Together with the P16.2-billion infusion completed earlier this year, the REIT will have added more than P43 billion worth of assets in 2026, making it its biggest year of portfolio expansion.
Riding on township boom
Once completed, MREIT’s footprint will expand from five to nine Megaworld townships.
Offices will account for about 77 percent of its portfolio, down from more than 95 percent today, while retail properties will make up 20 percent and hotels 3 percent, giving investors a broader mix of rental income.
The assets include five lifestyle malls, the 737-room Holiday Inn Express Manila Newport City, and six office buildings across Megaworld townships in Metro Manila, Laguna and Iloilo.
—Edited by Miguel R. Camus
