Megaworld Corp. plans to finally inject some of its malls into its real estate investment trust, MREIT Inc., by the second half of 2026 after completing the transfer of its latest batch of office assets.

“We’re going to inject malls next year,” Megaworld Executive Director and MREIT Chairman Kevin L. Tan said in an interview. “We’ll try to bring in about two batches... we’ll add another 250,000 square meters (to MREIT) and it will be malls and offices. Definitely we’ll put malls already.”

According to Megaworld Investor Relations Head Andy Dela Cruz, the first infusion batch next year will consist of 10 office assets worth P20 billion. This infusion, which has been previously disclosed, is expected to be completed in the first half of 2026.

“For the malls, the plan is for the second half of 2026, but there is still no value... but it will be about 370,000 square meters of retail assets,” Dela Cruz said. He added that the number of malls included 
“will depend on the mix.”

“We are currently reviewing all the malls under Megaworld,” Dela Cruz said. “The goal is really to infuse everything under Megaworld.”

This move is part of the firms’ target to grow MREIT’s portfolio to one million square meters by 2027, effectively doubling its current size in two years.

“And then, after that, there’s still a lot more assets from Megaworld. By 2030, Megaworld will have three million square meters in total—two million square meters in offices, one million square meters in retail. So, by 2030, there is still at least two million square meters more that we can put into MREIT,” he said.

The current Megaworld assets to be infused into MREIT consist of nine office buildings in McKinley Hill Village, Taguig, and one office tower in Eastwood, Quezon City, with a total gross leasable area of 198,540 square meters.

Specifically, the McKinley Hill office buildings are Science Hub Towers 1, 3, and 4; One Campus Place Buildings A and B; the four buildings occupied by Wells Fargo (8 Campus Place A, B, and C, and SEAC); as well as Global One in Eastwood City.

The companies agreed to pursue a share swap arrangement for certain income-generating real estate owned by Megaworld that meets MREIT’s investment criteria. MREIT intends to acquire the target growth assets to secure income growth and provide a competitive investment return to its shareholders.