Megaworld infuses ₱16.2-B Taguig assets into MREIT

Megaworld Corp. has finalized the infusion of P16.22 billion worth of office assets at McKinley Hill in Taguig City into its real estate investment trust (REIT), MREIT Inc., through its latest batch of property-for-share swaps.

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The firms disclosed to the Philippine Stock Exchange (PSE) that their boards of directors have approved the infusion of nine Megaworld grade A office buildings into MREIT through a property-for-share swap transaction.

The assets to be infused—Science Hub towers 1, 3, and 4; 8 Campus Place buildings A, B, and C; One Campus Place buildings A and B; and South East Asian Campus (SEAC)—are all grade A office properties located within Philippine Economic Zone Authority (PEZA)-registered zones at McKinley Hill, one of Metro Manila’s established business districts.