MREIT books P1.25B distributable income in Q1 2026

Megaworld Corporation-backed real estate investment trust (REIT) company MREIT Inc. posted its strongest quarterly performance to date during the January to March 2026 period.

In a disclosure to the Philippine Stock Exchange on Thursday, MREIT reported a distributable income of P1.25 billion, up 34% year-on-year, driven by a 29% growth in revenues to P1.72 billion.

A REIT is a company that owns, operates, or finances income-generating real estate such as offices, malls, hospitals, and warehouses—allowing individuals to invest in large-scale property portfolios through stock market shares. 

REITs are legally mandated to distribute at least 90% of their income to investors.

MREIT attributed its first quarter performance on the full impact of the integration of properties under its P16.2-billion “Wave 4" property-for-share acquisition, which added nine Grade A office buildings in McKinley Hill and anchored by multinational tenants, expanding the company's gross leasable area (GLA) by 34% to about 647,000 square meters. 

"Our first quarter results show Wave 4 working exactly as intended: accretive from day one, and at a scale that meaningfully lifts both our earnings base and margin profile," said Jose Arnulfo Batac, president and CEO of MREIT Inc. 

With "Wave 4" integrated, MREIT is embarking on its "Wave 5" acquisition, which is expected to mark the company's diversification into retail by infusing mall assets in the second half of the year.

Subject to due diligence, valuation, and regulatory approvals, the company said "Wave 5" will bring MREIT materially closer to its goal of one million square meters of GLA by 2027.

MREIT's portfolio consists of prime income-generating assets located within Megaworld's townships, including McKinley Hill, McKinley West, Eastwood City, Iloilo Business Park, and Davao Park District. — VDV, GMA News