Megaworld Corp. said Thursday it sold 168.63 million common shares of real estate investment trust company MREIT Inc. for P2.239 billion.
The shares were sold on Sept. 17, 2025 at P13.28 per share, representing a 4.46-percent discount to MREIT’s closing price of P13.90 the previous day.
Settlement of the transaction is scheduled on Sept. 19, 2025, Megaworld said in a disclosure to the stock exchange.
Megaworld said it would submit a reinvestment plan outlining the intended use of the proceeds from the sale in compliance with regulatory requirements.
Maybank Securities, BDO Securities, First Metro Securities and RCBC Securities served as brokers for the transaction.
This is the second time this year Megaworld disposed MREIT shares via block sale. In July, it also raised P1.17 billion from the sale of 84.8 million common shares at P13.82 each.
MREIT in October 2024 acquired six prime office properties worth P13.15 billion from Megaworld via a property-for-share swap deal.
MREIT’s gross leasable area stands at 482,000 square meters, and the company expects to reach 600,000 sq. m. by end-2025.
It aims to keep growing by expanding its GLA by around 100,000 sq. m. every year to achieve its growth target of 1 million sq. m. by 2030.
Its portfolio comprises 24 prime office properties in five Megaworld premier townships: Eastwood City, McKinley Hill, McKinley West, Iloilo Business Park and Davao Park District.
MREIT reported plans to conduct two to three major asset infusions over the next two years.
Backed by a strong pipeline from its sponsor Megaworld, MREIT is also evaluating the infusion of retail assets, which are expected to be part of the portfolio.
