“We remain committed to delivering competitive returns to our shareholders through a combination of organic growth and acquisitions,” MREIT President and Chief Executive Officer Kevin L. Tan said in a press release on Monday.
In April 2022, MREIT announced the acquisition of four prime properties, which will keep the company on track to achieving its goal of having 500,000 square meters of gross leasable area by the end of 2024. The grade A office properties are said to increase the total gross leasable area of MREIT by 44,567 sq.m.
“The acquisition will increase MREIT’s property value by 9% to P64.5-billion and will provide added growth in line with our promise to deliver sustainable value to our shareholders,” said Mr. Tan.
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