MREIT, Inc., an affiliate of Andrew Tan-controlled Megaworld Corp., aims to reach one million square meters of gross leasable space by 2027—doubling its current footprint.
The company plans to achieve this target by infusing mall and retail assets from its parent firm, Megaworld.
“This move aims 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,” Kevin Tan, MREIT chairman, said in a statement.
“Our goal is to diversify our portfolio and expand our revenue base. While the country is experiencing impressive growth in consumer activities, we aim to capitalize on these opportunities. This will enable us to deliver both growth and diversification, keeping our portfolio resilient and relevant for the years ahead,” he added.
Tan noted that Megaworld continues to hold a substantial portfolio of income-generating assets, including around one million square meters of office GLA and 500,000 square meters of retail GLA that may still be infused into MREIT over time.
“This deep pipeline provides flexibility and underscores the long-term growth runway as MREIT accelerates toward its one million square meter target,” he said.
Tan also reported that foot traffic and sales in Megaworld Lifestyle Malls have already surpassed pre-pandemic levels, with vigorous leasing activity from both global and homegrown brands.
Mall occupancy reached a record 93 percent as of the end of June 2025.
“This favorable environment underpins MREIT’s strategy to bring in more retail assets in the future, ensuring that its portfolio captures both the growth of business process outsourcing and the resurgence of Philippine consumer spending,” Tan said.
MREIT remains focused on expanding its portfolio through aggressive acquisitions while maintaining strong dividend payouts to investors.
