MREIT earnings hit P677M on higher occupancy rates - BusinessWorld Online

In a press release, MREIT said that 96.5% of new occupancy contracts had been secured during the April-June period. It derives its revenues through leasing real properties.

“We remain focused on delivering attractive returns to MREIT investors. We continue to manage our assets proactively, which allowed us to register net positive take-up in our portfolio,” MREIT President and Chief Executive Office Kevin L. Tan said. MREIT announced in April the acquisition of P5.3-billion additional four prime properties located in the Iloilo Business Park in Iloilo City’s Mandurriao district, and McKinley West in Taguig City.“Once completed, the acquisition will expand MREIT’s portfolio gross leasable area by 16% to 325,000 square meters covering 18 office properties in four Megaworld premier townships,” the company said.

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