Megaworld raises ₱5.6B through MREIT to fund new township developments

The property developer will reinvest proceeds from its MREIT share sale into new income-generating projects as it expands the REIT’s portfolio beyond office properties.

Megaworld is raising fresh capital from assets it has already built, giving it more room to expand township projects in some of the country’s fastest-growing business hubs.

The Andrew Tan-controlled property developer sold ₱5.6 billion worth of shares in its real estate investment trust, MREIT Inc., between April and July as it prepares the REIT’s next asset infusion. The proceeds will be reinvested into new income-generating developments, allowing the company to channel capital from mature properties into its next round of offices, malls, hotels, and mixed-use projects.

The upcoming infusion will add 303,500 square meters of gross leasable space, bringing MREIT’s portfolio to more than 950,000 square meters and putting it within reach of the one-million-square-meter milestone ahead of its 2027 target.

The transaction will also make MREIT less dependent on office properties. Once completed, offices will account for about 77% of the portfolio, while malls will contribute 20% and hotels 3%, giving investors access to a broader mix of recurring rental income.

The company plans to deploy the capital across projects in Palawan, Bacolod, Pampanga, Cebu, Iloilo, Cavite, and Pasig. Continued investment in these estates can create more commercial space for businesses, support local employment during development, and strengthen economic activity in emerging growth centers beyond Metro Manila.

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