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Megaworld completes P1.32-B MREIT block sale
Property giant Megaworld Corp. has successfully raised P1.86 billion through the sale of shares in MREIT Inc. and Suntrust Resort Holdings Inc.
Megaworld sold 98 million common shares in MREIT via a block sale transaction for P1.32 billion, with settlement occurring on December 23, 2025.
A reinvestment plan detailing the utilization of the proceeds from the MREIT share sale will be submitted by Megaworld.
This latest transaction follows a previous P2.24 billion share sale in MREIT by Megaworld in September.
Megaworld intends to enhance MREIT's portfolio by contributing more office assets and mall developments.
Additionally, Megaworld disposed of 900 million common shares in Suntrust Resort Holdings Inc., representing a 12.41 percent interest, for P540 million.
Suntrust Resort Holdings Inc., the Philippine arm of LET Group, is collaborating with several companies to accelerate the development of Westside City in Parañaque City.
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