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MREIT profit jumps 31%, fueled by new properties
Business World Philippines
|May 09, 2025
MREIT, INC. posted a 31% increase in first-quarter (Q1) net income to P963 million, up from P733 million in the same period last year, driven by contributions from recently acquired properties.
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First-quarter revenues rose by 25% to P1.34 billion, compared with P1.08 billion in the same period in 2024, the real estate investment trust (REIT) of Megaworld Corp. said in a regulatory filing on Thursday.
For the January-to-March period, distributable income grew by 26% to P932 million from P742 million last year. The Securities and Exchange Commission’s implementing rules and regulations on REITs define distributable income as net income adjusted for unrealized gains and losses.
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