The real estate investment trust (REIT) of bilyonaryo Andrew Tan’s Megaworld Corp. is diversifying its portfolio to include townships as well as industrial and logistics properties.
In its three-year growth plan submitted to securities regulators, MREIT said it was looking at investing in other real property sectors that meet its investment criteria for Grade A, centrally-located, stably occupied, and income-producing properties.
MREIT aims to deliver an annual total shareholder return of at least 10 percent through organic growth and new acquisitions.
In selecting assets for future investments, MREIT said the potential property should be located in a prime location in either Metro Manila or key provinces in the Philippines.
Acquisitions will be funded either through debt or equity or a combination of both.
The company currently carries minimal debt at 12.4 percent of deposited properties, well below the aggregate leverage limit of 35 percent which may be further increased to 70 percent for REIT companies that have a publicly disclosed investment grade credit rating by a duly accredited or internationally recognized rating agency.
MREIT’s property portfolio is currently valued at P58.5 billion with the infusion of four prime office buildings in Philippine Economic Zone Authority-registered zones. These include Two Techno Place, Three Techno Place and One Global Center, which are all located in Iloilo Business Park, and World Finance Plaza in Mckinley Hill in Fort Bonifacio.
SOURCE: Bilyonaryo
0 comments:
Post a Comment