(Last Updated On: October 19, 2021)
In a disclosure MREIT (Megaworld REIT) stated that the REIT company of the largest country office landlord (Mega world), has recorded higher revenues with 6% to P711.2-million during the end quarter of September 2021. The back-rental income is calculated up to P583.7-million otherwise 5% is higher than the aim set in REIT Plan. In first full quarter concludes that MREIT’s operations required (10) prime. Mega World is grade A office assets in this year of June.
MREIT is ready to declare dividends within this month of October accordance with its REIT plan. The company is finding reasons into declaring dividends of at lest P0.24 per share. Subject are necessary to regulate approvals and board.
Kevin L. Tan, President and CEO, MREIT, Inc stated that
“This is just the initial tranche of dividends that we intend to declare for the current fiscal year 2022. Considering MREIT’s strong performance to date, as well as our improved outlook on office demand and the infusion of additional assets, we are confident of our ability to meet, if not surpass, our dividend projection for the year as indicated in our REIT plan. We thank all our investors for the trust and confidence to MREIT,”
MREIT earlier released a statement that it’s plan to double the portfolio size by 2024, and also to reach 1-miilion square meters in floor size by 2030. In next year, around 100,000 sqm. Of prime office assets will be introduce into MREIT. It also announced its plan to inject more assets from Uptown Bonifacio in BGC aside from the assets coming form Eastwood City, McKinley Hill, and Iloilo Business Park, Stated by Leechiu Properties in June. BGC still one of the highest rental rates among to others business districts in the country
MREIT aspires to be one of, if not, the largest office REIT in Southeast Asia on the strength of the company’s long runway for growth backed by Megaworld’s extensive office portfolio.