MREIT Income Surges 34% in H1 on Asset Acquisition, Efficiency Gains

MANILA, Philippines — MREIT Inc., the real estate investment trust of property giant Megaworld, recorded a 34-percent hike in its distributable income to P2.49 billion in the first half, fueled by its latest asset acquisition, improved portfolio occupancy and further gains in operating efficiency. MREIT said distributable income growth outpaced the 26 percent jump in first half revenues to P3.41 billion. Its net operating income margin improved to 81 percent, reflecting cost efficiencies and operating leverage across the company’s enlarged portfolio. MREIT said the margin improvement was achieved despite inflationary pressures and higher energy-related costs arising from the Middle East crisis. Helping manage exposure to volatility in electricity generation was the firm’s disciplined cost management and transition to 100 percent renewable electricity supply across its portfolio. Portfolio occupancy grew to 90 percent from 89 percent in the same period last year, indicating the continued attractiveness of MREIT’s office properties within Megaworld’s integrated townships. MREIT said its occupancy remained well above prevailing occupancy rates in both Metro Manila and provincial office markets reported by property consulting firms. The company’s strong performance also sustained the higher level of dividends per share during the period. MREIT has declared a second quarter cash dividend of P0.2630 per share, payable on Aug. 28 to stockholders on record as of Aug. 14. The latest declaration brings MREIT’s total dividends for the first half to P0.5260 per share, equivalent to an annualized dividend yield of 7.6 percent based on the company’s last closing price. “As promised, we now structure every asset infusion we pursue to deliver material dividend-per-share accretion. The dividends declared in both the first and second quarters of 2026 reflect that commitment and demonstrate how Wave 4 is translating portfolio growth into tangible per-share returns for our shareholders,” MREIT president and CEO Jose Arnulfo Batac said. After Wave 4, MREIT is advancing Wave 5, its largest asset infusion to date, toward completion.