Megaworld raises P945 miilion from sale of MREIT shares

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March 10, 2026 | 12:00am

MANILA, Philippines — Property giant Megaworld Corp. has raised nearly P1 billion from a fresh round of sale of shares in its real estate investment trust company, MREIT Inc.

In a stock exchange filing, Megaworld said it sold 70 million common shares of MREIT under a block sale transaction at P13.50 apiece, which is equivalent to P945 million.

The proceeds from the block sale will be settled today.

Megaworld said a required reinvestment plan detailing the use of proceeds from the block sale transaction would be submitted by the company.

BDO Securities acted as broker for the transaction.

Last December, Megaworld sold 98 million common shares in MREIT at a price of P13.50 apiece, equivalent to P1.32 billion.

The company also raised P2.24 billion from sale of shares in its real estate investment trust company in September 2025.

Megaworld has earmarked P65 billion for its capital expenditures this year to support the expansion of its township developments, particularly in the provinces, as the company takes advantage of growth opportunities outside of Metro Manila.

MREIT, meanwhile, is gearing up for its next phase of expansion later this year after finishing 2025 on a high note, posting an 18-percent jump in its distributable income to P3.7 billion on the back of higher occupancy and sustained leasing momentum across its office portfolio.

MREIT’s portfolio consists of prime office assets located within Megaworld’s townships, including Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park and Davao Park District.

The company expects regulatory approval for its fourth wave of property-for-share swap transaction within the first half, marking a significant step in its next phase of expansion.

Announced in December last year, the fourth wave involves the acquisition of nine Grade A office buildings located in McKinley Hill, Taguig.

Following wave four, MREIT is also preparing for its next phase of expansion in the latter part of the year, which is expected to initiate the company’s diversification into select mall assets.

These subsequent infusions, which are subject to due diligence, valuation and regulatory approvals, would expand its portfolio by around 100,000 square meters to 750,000 square meters, reinforcing its transformation into a larger and more diversified REIT platform.

MREIT is on track to expand its gross leasable area to one million square meters by 2027, driven primarily by Megaworld’s substantial pipeline of income-generating assets and by the broader property portfolio within Alliance Global Group.