Megaworld Corp. announced Monday it raised P5.6 billion through block sales of shares in MREIT, Inc. from April to July. The funds will be used to finance new projects within its township developments, according to a statement reported by BusinessWorld.
The block sales come ahead of MREIT's fifth asset infusion, with proceeds earmarked for reinvestment in recurring income-generating projects across Megaworld's township developments. The property firm did not disclose specific projects but noted the funds would support its expansion strategy.
Megaworld, led by Andrew Tan, continues to leverage its REIT platform to raise capital for township initiatives. The company operates several large-scale integrated communities across the Philippines, focusing on mixed-use developments that combine residential, commercial, and leisure components.