MREIT to purchase office towers worth P5.3 billion
Apr 6, 2022
Megaworld Real Estate Investment Trust (MREIT) is set to acquire four office properties worth P5.3 billion, ramping up its total portfolio to P65 billion.
The offices have a total gross leasable area of 44,567 square meters and are within accredited zones of the Philippine Economic Zone Authority (PEZA).
After the acquisition, the offices will increase MREIT’s asset portfolio by 16% to 325,000 square meters and will bring total properties to 18.
The new property infusions include Festive Walk 1B and Two Global Center in Iloilo Business Park, and One West Campus and Five West Campus in McKinley West, Taguig City. These properties have an average occupancy rate of 96%.
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