The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
MREIT, Inc.MREIT
PSE Disclosure Form REIT-2 - Reinvestment Plan Progress Report Reference: Section 6 of the Amended PSE Listing Rules for REITS
Annual Report
Quarterly Report
Subject of the Disclosure
Quarterly Progress Report on the Disbursement of Proceeds from the sale to MREIT, Inc. ("MREIT") of four Prime, Grade A buildings, located in PEZA-registered Zones on December 2021 ("December 2021 Asset Sale") for the First Quarter of 2022, pursuant to the Reinvestment Plan of Megaworld Corporation, as Sponsor of MREIT
Background/Description of the Disclosure
Progress Report on the Use of Proceeds for the quarter ending 31 March 2022, in relation to the Reinvestment Plan submitted by Megaworld Corporation in connection with the December 2021 Asset Sale to MREIT, duly certified by external auditors
Update or Status of the Reinvestment Plan
As of 31 March 2022, the remaining balance of the proceeds from the December 2021 Asset Sale amounts to Seven Billion Nine Hundred Twenty Two Million Eight Hundred Thirty Thousand Pesos (Php7,922,830,000.00)
Summary of Transactions Involving Real Estate and/or Infrastructure Projects for the Period
The following disbursements for the Reinvestment Plan were made for the period of January 1 to March 31, 2022:
Project Name: Paragua Coastown Project
Type of Investment: Investment in Building
Disbursing Entity: Megaworld San Vicente Coast, Inc.
Total: Php500,000,000.00
Project Name: Mactan Newtown Project
Type of Investment: Investment in Building
Disbursing Entity: Oceantown Properties, Inc.
Total: Php235,000,000.00
Description of Real Estate Assets and/or Infrastructure Projects for the Period
Paragua Coastown Project - Malls, Office, Land developments and Other developments in Palawan
Mactan Newton Project - Malls, Office, Land developments and Other developments in Mactan, Cebu
Other Relevant Information
This report was amended to update the description of the Real Estate Assets covered by the report, to align with the revised Reinvestment Plan Progress Report of the Sponsor, Megaworld Corporation.
This report is being amended further to include the notarized auditor's report.
Filed on behalf by:
Name
Ma. Georgina Alvarez
Designation
Chief Legal Consultant
Attachments
Original Link
Original Document
Permalink
Disclaimer
MREIT Inc. published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2022 23:24:10 UTC.
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, and McKinley Hill. Iloilo Business Park is an integrated urban township in a 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.
MREIT, INC. 
