MREIT eyes mall asset infusions

MREIT Inc. is considering the infusion of mall and retail assets from its sponsor, Megaworld, to diversify its portfolio, which is targeted to reach one million square meters of gross leasable area (GLA) by 2027.

- By RICHMOND MERCURIO

The infusion of mall assets seeks to capture the continued growth in consumer spending and the strong momentum in mall leasing, complementing MREIT's established base of high-occupancy office assets.

"Our goal is to diversify our portfolio and expand our revenue base. So while the country is experiencing an impressive growth in consumer activities, we want to tap into these opportunities. This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead," MREIT chairman Kevin Tan said.