MREIT bolstering portfolio by adding more leasable assets

MREIT Inc., the real estate investment trust of property giant Megaworld, will be bolstering its portfolio by an additional 500,000 square meters in gross leasable area (GLA) in the next two years.

- Richmond Mercurio

"We're already deep into the review and due diligence for the next set of properties and we expect to make a formal announcement soon for this to reach our 2027 target of one million square meters," MREIT investor relations head Andy dela Cruz said.

MREIT is accelerating assets infusion to reach its one million square meters of GLA target three years ahead of its original plan.

From its original target of 2030, MREIT is now looking to achieve one million square meters of GLA by 2027.

"It's two years until 2027 and we plan to do an additional 500,000 square meters more because we're currently at 480,000, so to reach one million we need to do 500,000 square meters," Dela Cruz said.