Is MREIT Inc Stock Halal?

MREIT, Inc. operates as a real estate investment trust, which engages in investments in income-generating real estate that meets a select set of criteria. The firm 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 Company’s investment properties include several buildings for mixed use, which are being leased out as office, retail, and hotel, including the hotel’s parking spaces. The firm'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 approximately 50 hectares of land inside Fort Bonifacio, a former military camp in Taguig City.