The strategy aims to complement its high-occupancy office properties with consumer-driven spaces at a time when retail demand is rebounding.
The company has set its sights on doubling its gross leasable area to one million square meters by 2027, with retail playing a central role.
Focus on diversification
“Our goal is to diversify our portfolio and expand our revenue base. So while the country is experiencing an impressive growth in consumer activities, we want to tap into these opportunities,” MREIT chair Kevin Tan said in a statement on Monday.
“This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,” he added.
Strong retail pipeline
Megaworld, its sponsor, still holds around 1 million square meters of office space and 500,000 square meters of retail GLA that may be added to MREIT over time, creating a deep growth pipeline.
Already, Megaworld Lifestyle Malls are surpassing pre-pandemic traffic and sales, with mall occupancy hitting 93 percent as of June 2025 on strong demand from both global and local brands.
This favorable backdrop underpins MREIT’s shift toward retail infusion alongside office towers.
The portfolio currently covers Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District, maintaining some of the highest occupancy levels in the industry.
—Edited by Miguel R. Camus
