Property developer Megaworld and its real estate investment trust MREIT have finalized a ₱27-billion transaction, described as the largest REIT expansion in the Philippines this year. The deal, reported by Manila Bulletin, involves the infusion of prime office and commercial assets into MREIT's portfolio, significantly boosting its asset base.
Under the agreement, MREIT will acquire select office buildings and commercial spaces from Megaworld, enhancing its gross leasable area and rental income. The transaction is expected to close within the year, subject to regulatory approvals, and will position MREIT as one of the largest REITs in the country by asset value.
Industry analysts note that the deal underscores the growing appetite for REITs in the Philippines, as investors seek stable yields from prime commercial properties. Megaworld's move is also seen as a strategic step to unlock value from its extensive land bank and office portfolio, potentially paving the way for further REIT-related transactions in the coming months.