Megaworld raises P3.38 billion from sale of MREIT shares

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June 11, 2026 | 12:00am

MANILA, Philippines — Property giant Megaworld Corp. has raised P3.38 billion from another round of sale of shares in its real estate investment trust company, MREIT Inc.

In a stock exchange filing, Megaworld said it sold 246.14 million common shares of MREIT at P13.75 per share in a block sale.

The proceeds from the block sale will be settled today.

A reinvestment plan detailing the use of proceeds from the block sale transaction will be submitted by the company on a future date. AB Capital Securities, BDO Securities and Maybank Securities acted as brokers for the transaction.

Last April, Megaworld raised P1.27 billion by selling 91.16 million MREIT common shares at P13.90 per share through a block sale.

Before that, it also raised P945 million from the sale of 70 million common shares of MREIT at P13.50 apiece in March.

MREIT is currently gearing up for its largest single-asset acquisition to date, diversifying its portfolio through the infusion of mall and hospitality assets.

The company last month signed a memorandum of understanding (MOU) to acquire 12 commercial assets with a combined gross leasable area of approximately 303,500 square meters.

Through the MOU, MREIT, Megaworld, Travellers International Hotel Group Inc. and Southwoods Mall Inc. formalized their intent to proceed with the property-for-share swap, subject to due diligence, final valuation and the necessary regulatory approvals.

The transaction, which will be infused under the company’s Wave 5 expansion, consists of five lifestyle malls, six Grade A office buildings and one internationally branded hotel.

Once finalized and approved, the acquisition will expand MREIT’s total portfolio by 47 percent to approximately 950,000 square meters.

It will also shift MREIT’s asset mix from over 95 percent office at present to a diversified split of about 77 percent office, 20 percent retail and three percent hospitality.

The introduction of retail and hospitality assets is expected to broaden MREIT’s income base and enhance the resilience of its distributable income across cycles.