Slide 1: First Quarter 2025 Analysts' Briefing
FIRST QUARTER 2025 ANALYSTS’ BRIEFING
Slide 2: Market Update
MARKET NEW LEASES (‘000 sqm) UPDATE 294,000 sqm • Colliers reported that new office Ortigas 33 leases in the Philippines reached 294,000 sqm in 1Q2025, slightly up Makati 68 from 292,000 sqm in 1Q2024. • The vacancy rate increased to Taguig 48 19.7% in 1Q2025 from 18.9% in 1Q2024, showing a rise in
Slide 3: Operating Highlights
OPERATING TENANT MIX HIGHLIGHTS BPO TRADITIONAL RETAIL HOTEL 81% 14% 3% 2% 7% 7% OCCUPANCY RATE 7% 89% TENANT BREAKDOWN 4% WALE 57% (by GLA) 4% (WEIGHTED AVERAGE LEASE EXPIRY) 3% 3% 3.2 YEARS 3% TOTAL TRANSACTIONS 3% 2% TOP 10 TENANTS 38,500 SQM (43%)
Slide 4: Financial Performance
FINANCIAL PERFORMANCE In PHP millions 1Q2025 1Q2024 YoY% Revenues 1,340.5 1,076.4 24.5% Direct Operating Costs -252.4 -273.6 -7.7% RENTAL INCOME VS Gen. & Admin. Expense -12.0 -11.7 0.6% DISTRIBUTABLE INCOME Net Operating Income 1,076.1 791.1 36% Interest & Other Income 18.9 19.8 -4.8% Interest Expe
Slide 5: Dividend Declaration
DIVIDEND DIVIDEND DECLARATION PER SHARE Dividend Yield DIVIDEND PER SHARE 7.3% based on PHP 0.25047 09 MAY 2025 closing price PAYMENT DATE 0.2505 0.25047 0.2476 0.2476 0.2474 0.2489 0.2468 0.2444 0.2428 06 JUNE 2025 0.2400 0.2399 0.2430 0.2460 0.2460 0.2460 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q
Slide 6: Diversified Portfolio
DIVERSIFIED SUSTAINED EXPANSION PORTFOLIO POST-ACQUISITION VALUE ASSET UNDER MANAGEMENT PHP 76 BILLION INCREASE SINCE IPO 48% 55% 16% 25% 1Q22 Wave 1 Wave 2 Wave 3 The addition of assets in McKinley West, Davao Park District, and Iloilo Business Park reinforces MREIT’s unique position as the only RE
Slide 7: Our Target One
OUR TARGET ONE 482k 600k MILLION 224k SQM GLA SQM GLA SQM GLA SQM GLA IPO 2024 2025 2030 MREIT is setting its sight on target of 600,000 sqm of GLA for 2025, strengthening its lead as a high-growth office REIT in the country.
Slide 8: Large Pipeline for Growth
LARGE PIPELINE FOR GROWTH OFFICE GLA RETAIL GLA HOTEL (‘000 sqm) (‘000 sqm) (room keys) 139 151 1,025 3,346 490 449 26.6 149 MEG & Affiliates MREIT Portfolio MEG Portfolio Pipeline
Slide 9: Our Takeaway
OUR TAKEAWAY • Strong rental income growth, driven by the contribution of Wave 3 assets and steady rental escalations across MREIT’s prime office portfolio. • First-quarter distributable income rose 26% year-on-year to P932 million, while revenues climbed 25% to P1.34 billion, reflecting the sustain
Slide 10: First Quarter 2025 Analysts' Briefing
FIRST QUARTER 2025 ANALYSTS’ BRIEFING