MREIT allocates P184M from share sale to township projects

MREIT, INC., the real estate investment trust (REIT) of listed Megaworld Corp., said it has earmarked P184 million from the proceeds of a recent block sale of its shares for ongoing township projects in Bacolod, Cebu, and Palawan.

In its reinvestment progress report, Megaworld said P70.7 million was allocated for the development of Paragua Coastown, its eco-tourism township in San Vicente, Palawan.

The funds, disbursed through its unit Megaworld San Vicente Coast, Inc., would be used for building and land improvements within the township.

MREIT also allocated P63.98 million for its Bacolod projects via Megaworld Bacolod Properties, Inc., covering planned expansions such as malls, offices, and land development.

Meanwhile, P49.5 million was earmarked for The Mactan Newtown in Cebu through Megaworld Oceantown Properties, Inc.

The disbursements were made between Dec. 23 and 31, 2025, MREIT said.

The funds came from the December block sale of MREIT’s 98 million common shares, which raised P1.32 billion. As of Dec. 31, MREIT’s remaining proceeds from the sale stood at P1.14 billion.

In a separate disclosure, MREIT said it has disbursed P380 million between Oct. 1 and Dec. 31, 2025 from a separate block sale transaction of 168.63 million common shares of MREIT in September.

Of the P2.21-billion net proceeds, MREIT earmarked P160 million for The Mactan Newtown, P130 million for Paragua Coastown, and P90 million for its Bacolod projects.

MREIT’s asset portfolio includes office, retail, residential condominium, residential and commercial lots, and hotels, all located within Megaworld townships such as Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park, and Davao Park District.

Kevin Andrew L. Tan, president and chief executive officer of parent firm Alliance Global Group, Inc., said Megaworld plans to inject 250,000 square meters (sq.m.) of new office and mall assets into MREIT this year.

This is in line with MREIT’s goal to expand its asset portfolio to one million sq.m. of gross leasable area by 2027.

In the first nine months of 2025, MREIT posted a 27% increase in distributable income to P2.8 billion, driven by its newly acquired office assets.

Shares of MREIT fell by 0.43% or six centavos to close at P13.90 each on Wednesday. — Beatriz Marie D. Cruz