MREIT Inc. posted an 18-percent increase in distributable income to P3.7 billion in 2025, driven by higher occupancy rates and sustained leasing activity across its office portfolio.
In a disclosure on Monday, the real estate investment trust of Megaworld Corp. said revenues rose 24 percent year-on-year to P5.6 billion, reflecting improved rental income, stronger tenant demand and contributions from newly infused assets.
Following a solid performance last year, MREIT said it was anticipating regulatory approval of its Wave 4 property-for-share swap transaction within the first half of 2026, which would mark a significant step in its next phase of growth.
Announced last December, the Wave 4 transaction involves the acquisition of nine Grade A office buildings in McKinley Hill, Taguig, with a combined gross leasable area (GLA) of about 165,500 square meters (sqm).
The properties are located within the sponsor’s fully integrated township and are anchored by multinational tenants.
The company said more than 80 percent of the portfolio is leased to Global Capability Center (GCC) tenants, which typically operate under long-term mandates and have higher operational integration, lowering relocation risk and supporting income visibility.
“Our 2025 results demonstrate the strength of our platform and the consistency of our execution,” said Jose Arnulfo Batac, president and chief executive officer of MREIT.
“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,” he added.
Following Wave 4, MREIT said it was preparing for another expansion phase later this year that could result in diversification into select mall assets, subject to due diligence, valuation and regulatory approvals.
The potential infusion is expected to add around 100,000 sqm to its portfolio, bringing total GLA to about 750,000 sqm.
MREIT also declared cash dividends of P0.250478 per share, payable on March 26, 2026 to stockholders on record as of March 16, 2026.
The company said it remained on track to expand its GLA to one million square meters by 2027, supported by its sponsor’s pipeline of income-generating assets and the broader property portfolio of Alliance Global Group.
MREIT shares slipped 0.56 percent to P14.16 each on Monday while those of its sponsor Megaworld added 0.88 percent to close at P2.28 apiece.
