MREIT Inc., the real estate investment trust (REIT) of top office landlord Megaworld Corp., posted a 27-percent growth in distributable income to ₱2.8 billion as of end-September, driven by the contribution of six newly acquired office properties in 2024, higher occupancy, and sustained rental escalations.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said revenues grew 33 percent to ₱4.13 billion in the first nine months of 2025 compared to the same period last year.

MREIT recorded a 29-percent year-on-year growth in distributable income to ₱935 million in the third quarter of 2025, supported by sustained tenant demand and cost efficiency across its portfolio.

Revenues surged 42 percent year-on-year to ₱1.43 billion during the quarter, as MREIT continued to strengthen its portfolio performance in preparation for the next wave of growth amid improving market conditions.

“Our strong performance this quarter reflects not only the resilience of our office portfolio but also our readiness for the next wave of growth,” said MREIT President and Chief Executive Officer (CEO) Jose Arnulfo Batac.

He added that, “With market conditions turning more favorable, we are well-positioned to pursue our long-term expansion plans and deliver sustained value to our shareholders.”

MREIT’s portfolio occupancy rose to 92 percent as of end-September 2025, improving by around 300 basis points (bps) from the previous quarter with the successful onboarding of traditional and business process outsourcing (BPO) tenants across its office towers.

MREIT is also anticipating regulatory approval to increase its authorized capital stock to ₱8 billion from ₱5 billion, which will enable the company to acquire new assets in its upcoming wave of property infusions.

For this next round, MREIT is looking at 10 office properties—nine buildings in McKinley Hill and one in Eastwood City—with a combined gross leasable area (GLA) of around 198,500 square meters (sqm).

After completing this round of office infusions, MREIT is also preparing to begin the acquisition of several mall assets to further diversify its portfolio.

This will allow investors to benefit from the strong retail performance and record-high occupancy of Megaworld Lifestyle Malls.

The planned infusion will be based on the valuation of the properties and subject to compliance with the REIT Law’s minimum public float requirements.

Once approved and completed, these assets will expand MREIT’s portfolio by about 41 percent to 680,000 sqm, from the current 482,000 sqm.

Following its third-quarter results, MREIT declared cash dividends of ₱0.250478 per share, payable on Dec. 19, 2025, to stockholders of record as of Dec. 1, 2025.

This translates to an annualized dividend yield of 7.3 percent, based on the last closing price of ₱13.66 per share as of Nov. 12, 2025.

MREIT’s portfolio consists of prime office assets located within Megaworld’s townships, including Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.

The company continues to focus on delivering accretive acquisitions and stable dividends to its shareholders.

MREIT targets to expand its gross leasable area to one million sqm by 2027, leveraging Megaworld’s extensive pipeline of high-quality, income-generating properties to fuel the next phase of its growth.