MANILA -Billionaire Andrew Tan's MREIT Inc. doubled earnings in 2022 as it expanded its portfolio of leasing assets. The real estate investment trust (REIT), backed by Tan's property giant Megaworld Corp., closed the year with a distributable income of P2.5 billion, which was higher than the previous year by nearly 130 percent. Revenues in 2022 also jumped 140 percent to P3.6 billion. 'We cap off the year firm despite some headwinds faced by the office industry. Our ability to adapt and pivot in response to the ever-changing market conditions is a testament to the quality of our assets,' MREIT president and CEO Kevin Tan said in a statement on Tuesday.

https://business.inquirer.net/396493/mreit-doubled-earnings-in-2022

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