Good news for investors of MREIT – the real estate investment trust of Megaworld Corp. is making a strategic move to fast-track its growth. The company has announced an ambitious plan to achieve a gross leasable area (GLA) of 1 million square meters by 2027, a full three years ahead of its initial schedule.
This accelerated timeline is a testament to MREIT’s commitment to delivering exceptional value to its shareholders. The company’s Chairman, Kevin L. Tan, stated that this decision is a direct result of their vision to grow faster and exceed market expectations.
So, how will they do it? The plan involves a capital raise and the infusion of more prime assets into the company’s portfolio. The Board has already given its nod to increase the authorized capital stock and issue new common shares. The funds from this initiative will be used to further bolster MREIT’s already strong portfolio.
