MREIT Inc., the real estate investment trust of property developer Megaworld Corp., has received Securities and Exchange Commission (SEC) approval to acquire P13.15-billion worth of office properties via a property-for-share swap deal with its parent firm.
'This acquisition is a major milestone in our mission to drive MREIT's growth and solidify its position as one of the leading REITs in the Philippines,' MREIT President and Chief Executive Officer Kevin Tan said.