Property developer Megaworld Corp. has raised about ₱945 million after selling a portion of its shares in MREIT Inc., its real estate investment trust company, through a block sale transaction.
In a disclosure, the company said it sold 70 million MREIT common shares at ₱13.50 each, allowing Megaworld to generate fresh capital while still maintaining a significant stake in the REIT platform.
The share sale forms part of Megaworld’s strategy to recycle capital from mature income-generating assets. Through its REIT structure, the company can unlock funds from completed properties and reinvest the proceeds into new developments and expansion projects.
Megaworld said it will submit a reinvestment plan outlining how the proceeds from the transaction will be used. The funds may support the expansion of its township developments, particularly in areas outside Metro Manila where the company sees strong growth opportunities.
Meanwhile, MREIT continues to expand its portfolio of office properties located within Megaworld townships such as Eastwood City, McKinley Hill, Iloilo Business Park, and Davao Park District. The REIT is also preparing for additional property acquisitions as part of its long-term growth strategy.
Industry analysts said the latest share sale highlights how property developers are increasingly using REIT platforms to raise funds while maintaining recurring income from leased assets.
