MREIT Expands Portfolio with Malls, Offices and Hotel in Largest Asset Infusion Yet
MREIT expands its portfolio with 12 new assets, including malls, offices, and a hotel, pushing total GLA near 1 million sq.m.
Pratyaksha Singh 
MANILA, Philippines - MREIT Inc., the real estate investment trust backed by Megaworld Corporation, has announced its largest portfolio expansion to date through the acquisition of 12 commercial properties with a combined gross leasable area (GLA) of 303,500 square meters.
The transaction, known as the company’s “Wave 5” expansion, will increase MREIT’s total portfolio by 47%, bringing its overall GLA to approximately 950,000 square meters from its current 647,000 square meters.
Largest Expansion Since IPO
The acquisition includes five lifestyle malls, six office buildings, and one internationally branded hotel. The assets will be transferred through a property-for-share swap arrangement under a memorandum of understanding signed between MREIT, Megaworld Corporation, Travellers International Hotel Group Inc., and Southwoods Mall Inc.
According to the company, the transaction represents the largest single asset infusion since MREIT’s initial public offering and marks a strategic shift toward a more diversified asset portfolio.
Malls Lead the Acquisition
The retail component of the acquisition contributes approximately 160,000 square meters of GLA and includes some of the Philippines’ most recognized lifestyle destinations:
- Eastwood Mall, Quezon City
- Venice Mall, Taguig City
- Lucky Chinatown Mall, Manila
- Festive Walk Mall, Iloilo City
- Southwoods Mall, Biñan, Laguna
The inclusion of these properties strengthens MREIT’s exposure to consumer-driven retail and lifestyle sectors.
Office Portfolio Continues to Grow
The acquisition also adds six office assets totaling 117,000 square meters of GLA:
- Science Hub Tower 2
- Venice Corporate Center
- Six West Campus
- One Paseo
- Global One
- Horizon Center
These properties are located across key business districts in Metro Manila and support MREIT’s position as a major office REIT in the country.
Hospitality Asset Joins Portfolio
For the first time, MREIT will add a hospitality asset through the inclusion of Holiday Inn Express Manila in Newport City. The internationally branded hotel contributes approximately 26,500 square meters of GLA and broadens the REIT’s revenue diversification strategy.
The move reflects growing investor interest in mixed-use and hospitality-linked real estate assets as tourism and business travel continue to recover.
Moving Toward One Million Square Meters
MREIT Chairman Kevin Tan described the transaction as a transformative milestone for the company.
According to Tan, the acquisition shifts MREIT from a predominantly office-focused REIT into a diversified platform supported by high-performing retail, office, and hospitality assets.
The expansion also aligns with MREIT’s previously announced objective of reaching one million square meters of gross leasable area by 2027 while capitalizing on consumer spending growth and strong leasing demand.
Strengthening Long-Term Growth
With the addition of lifestyle malls, premium office properties, and a branded hotel, MREIT is positioning itself for broader income streams and enhanced portfolio resilience. The diversified asset mix is expected to support long-term growth while increasing its exposure to multiple segments of the Philippine real estate market.
