Megaworld's MREIT earns P733M in 1st quarter

by Brix Lelis - Earl John Alfaro

May 20, 2024 12:19 am

MREIT Inc., the real estate investment trust of Megaworld Corp., saw net income for the first three months of 2024 edge up to P733 million from P730 million a year earlier on sustained occupancy levels.

Total revenues rose 4 percent to P1.08 billion from P1.04 billion, driven by a substantial increase in rates within the common use service area, the real estate firm said in a recent stock exchange filing.

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