MREIT, Inc., the real estate investment trust of Megaworld Corp., said that it is considering the infusion of an additional P15-billion worth of commercial assets from the property developer. READ:
“For our next infusion, we are already considering properties from townships in key growth areas outside of Metro Manila where MREIT does not have a presence yet. This will further diversify our portfolio and allow us to tap into other growth centers around the country,” MREIT President and Chief Executive Kevin L. Tan said in a statement.
The firm said that it is maximizing shareholder value by increasing revenue generation from its existing portfolio, improving operational efficiency, and accelerating its acquisition plans. The real estate investment trust said that it started its expansion initiative after it listed in October 2021. It had acquired four properties before the yearend for a total consideration of P9.1 billion.
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