Developer to inject more malls, offices into REIT portfolio

Property giant Megaworld Corporation is ramping up support for its real estate investment trust (REIT) platform, MREIT Inc., with plans to inject a new mix of office and retail developments as it aims to transform MREIT into one of Southeast Asia’s leading REITs.

Megaworld Executive Director Kevin Tan said the strategy includes tapping the company’s portfolio of 1.7 million square meters of office space and over 500,000 square meters of retail area to reinforce MREIT’s expansion over the next few years.

“This potential pipeline will be instrumental in reinforcing MREIT’s future portfolio with premium office and mall developments, while also allowing Megaworld to invest more and capitalize on high growth opportunities in key areas across the country,” Tan said.

MREIT currently holds 482,000 square meters of gross leasable area (GLA) spread across 24 prime office assets in premier Megaworld townships such as Eastwood City, McKinley Hill, Iloilo Business Park, and Davao Park District. It aims to grow this figure to 1 million square meters by 2030, with an average of 100,000 square meters added annually.

The firm also plans to inject lifestyle malls into the REIT, with a new mall launch slated for later this year. The move signals a broader push to diversify MREIT’s portfolio beyond office developments and further tap into high-performing retail leasing segments.

Megaworld said its township-led development model provides strong support for MREIT’s asset pipeline, particularly as demand for integrated communities grows outside Metro Manila.

MREIT is actively evaluating acquisition opportunities and capitalizing on the rising investor interest in resilient, income-generating real estate backed by long-term leases and quality tenants.

The latest move marks a clear push by Megaworld to consolidate and scale up its REIT platform, while unlocking capital for future growth in the country’s property sector.