MREIT, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022
April 17, 2023 at 11:32 pm EDT
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MREIT, Inc. reported earnings results for the full year ended December 31, 2022. For the full year, the company reported sales was PHP 2,917.79 million. Revenue was PHP 3,648.77 million.
Net loss was PHP 176.55 million. Basic loss per share from continuing operations was PHP 0.07.
MREIT, Inc. is a Philippines-based company, which operates as a real estate investment trust (REIT). The Company seeks to secure income growth and provide a competitive investment return to the investors through present and future portfolio. Its objectives are primarily to own and invest in income-producing commercial portfolio of office, retail, and hotel properties in the Philippines. The Companyâs investment properties include several buildings for mixed-use, which are being leased out as office, retail, and hotel, including the hotelâs parking spaces. The Company's properties include Eastwood City, Iloilo Business Park, McKinley Hill, and McKinley West. Iloilo Business Park is an integrated urban township of approximately 72-hectare property in the bustling district of Mandurriao, Iloilo City. McKinley Hill is an integrated urban township on 50 hectares of land inside Fort Bonifacio, a former military camp in Taguig City.