Andrew Tan’s MREIT to diversify portfolio in next 3 years

Andrew Tan MREIT

The real estate investment trust (REIT) unit of bilyonaryo Andrew Tan-led Megaworld Corp. is looking to diversify its portfolio in the next three years by investing in other townships and other real estate properties.

MREIT said it plans to enter other high-growth geographic areas like Cebu, Bacolod and Pampanga where Megaworld’s townships are located.

The company’s diversification plans include investment in other types of real estate properties such as industrial, logistics, warehouse as well as other sectors that meet its investment criteria for Grade A, centrally-located, stably occupied, and income producing properties.

MREIT’s growth plan involves increasing its gross leasable area (GLA) portfolio to 500,000 square meters by the end of 2024.

The company said its portfolio GLA would hit 325,000 square meters upon completion of the property-for-share swap deal announced in April last year.

Part of MREIT’s three-year investment strategy is to maintain its reputation as the partner of choice in the Philippines for the BPO industry and traditional tenants.

To do so, the company said it would ensure that its tenants receive continued and dedicated service to drive high retention rates.

“In order to enhance the properties’ appeal to a broad range of office and retail tenants, the property manager will monitor the mix of tenants in each of the properties in relation to industry or market standards and requirements,” MREIT said.

“By having a good mix of tenants in each property, the company aims to generate a higher percentage of rental income from returning lessees and ensure sustained growth in rental rates,” it said.

MREIT targets well-established, corporate and retail clients and seeks to attract them by offering prime locations suitable for headquarter and BPO operations with adequate infrastructure, among other things.

https://bilyonaryo.com/2023/01/03/andrew-tans-mreit-to-diversify-portfolio-in-next-3-years/property/