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MREIT, Inc. posted stronger first-half earnings as its fourth wave of asset acquisitions boosted income and occupancy, while the actual estate investment trust (REIT) advanced a planned P27-billion portfolio expansion that can further diversify its assets beyond office properties.<\/span><\/p>\n The corporate reported a 34% increase in distributable income to P2.49 billion in the primary six months of 2026, driven by the completion of its Wave 4 asset acquisition, improved occupancy, and operating efficiencies.<\/p>\n Revenue for the January-to-June period rose 26% to P3.41 billion from P2.70 billion a 12 months earlier, MREIT said in an announcement on Thursday.<\/p>\n In its quarterly report, MREIT said attributable net income for the second quarter increased 29.4% to P1.25 billion from P965.8 million a 12 months earlier, while revenue grew 24.2% to P1.69 billion from P1.36 billion.<\/p>\n Its net operating income margin improved by 121 basis points to 81%, which the corporate attributed to cost management initiatives and operating leverage across its expanded portfolio despite inflationary pressures and better energy-related costs linked to the Middle East crisis.<\/span><\/p>\n \u201cMREIT\u2019s disciplined cost management and transition to 100% renewable electricity supply across its portfolio helped manage exposure to volatility in electricity generation costs while supporting the corporate\u2019s broader sustainability objectives,\u201d it said.<\/p>\n Portfolio occupancy improved to 90% in the primary half from 89% a 12 months earlier.<\/p>\n MREIT also declared a second-quarter money dividend of P0.2630 per share, up 5% from a 12 months earlier, bringing total first-half dividends to P0.5260 per share.<\/span><\/p>\n \u201cAs promised, we now structure every asset infusion we pursue to deliver material dividend-per-share accretion. The dividends declared in each the primary and second quarters of 2026 reflect that commitment and reveal how Wave 4 is translating portfolio growth into tangible per-share returns for our shareholders,\u201d MREIT President and Chief Executive Officer Jose Arnulfo C. Batac said.<\/p>\n The corporate is advancing its previously announced P27-billion fifth wave of asset acquisitions through a property-for-share swap, subject to regulatory approvals.\u00a0<\/span><\/p>\n The transaction will add about 303,500 square meters (sq.m.) of gross leasable area (GLA), increasing MREIT\u2019s portfolio to greater than 950,000 sq.m. and putting it on course to succeed in 1 million sq.m. ahead of its 2027 goal. It follows the completion of the corporate\u2019s P16.2-billion fourth wave of acquisitions in the primary quarter.<\/p>\n Upon completion, office properties will account for about 77% of MREIT\u2019s GLA, down from greater than 95% currently, while retail assets will comprise about 20% and hotel properties the remaining 3%. The transaction may also expand MREIT\u2019s presence from five to nine Megaworld Corp. townships.<\/p>\n The retail assets to be infused comprise five malls with a combined GLA of 160,200 sq.m.: Festive Walk Mall in Iloilo Business Park, Lucky Chinatown Mall in Binondo, Venice Grand Canal Mall in McKinley Hill, Eastwood Mall in Quezon City, and Southwoods Mall in Bi\u00f1an, Laguna.<\/p>\n The transaction also includes the 737-room Holiday Inn Express Manila Newport City, with 26,500 sq.m. of GLA, and 6 office properties with a combined GLA of 117,200 sq.m.: Science Hub Tower 2 and Venice Corporate Center in McKinley Hill, Six West Campus in McKinley West, One Paseo in ArcoVia City, Global One in Eastwood City, and Horizon Center in Newport City.<\/p>\n The assets included within the fifth wave of acquisitions have a blended occupancy rate of 91% and a weighted average lease expiry of 5.3 years.<\/p>\n The property-for-share swap will involve Megaworld Corp., Travellers International Hotel Group, Inc., and Southwoods Mall, Inc. at a subscription price of P16.50 per share, similar to an 18.6% premium to MREIT\u2019s 30-day volume-weighted average price.<\/p>\n \u201cThe transaction structure reflects MREIT\u2019s disciplined approach to acquisitions, ensuring that portfolio expansion is pursued not merely for scale, but to boost shareholder value through dividend-per-share accretion,\u201d the corporate said.<\/p>\n MREIT shares rose 0.43% to P14.08 apiece on Thursday. \u2014 Alexandria Grace C. Magno<\/b><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" MEGAWORLD MREIT, Inc. posted stronger first-half earnings as its fourth wave of asset acquisitions boosted income and occupancy, while the actual estate investment trust (REIT) advanced a planned P27-billion portfolio expansion that can further diversify its assets beyond office properties. The corporate reported a 34% increase in distributable income to P2.49 billion in the primary […]<\/p>\n","protected":false},"author":1,"featured_media":375541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[5996,9381,5411,7182,32774],"class_list":["post-375540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-assets","tag-boosts","tag-earnings","tag-firsthalf","tag-mreit"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t