MREIT to acquire 9 office buildings worth P16.22 billion

MREIT, Inc., the REIT arm of Megaworld Corp., will acquire nine Grade A office buildings valued at P16.22 billion through a property-for-share swap.

This acquisition will increase MREIT's total office gross leasable area by 165,477 square meters, bringing its portfolio to 646,891 square meters.

The acquired properties include Science Hub Towers 1, 3, and 4; 8 Campus Place Buildings A, B, and C; One Campus Place Buildings A and B; and the South East Asian Campus (SEAC).

All these office buildings are located within McKinley Hill in Taguig City and are situated within Philippine Economic Zone Authority (PEZA)-registered zones.

MREIT President and CEO Jose Arnulfo C. Batac stated that the infusion aligns with the company's strategy of acquiring high-quality, income-generating assets in prime locations.