Property developer Megaworld Corp. is set to reinvest approximately P3.4 billion in proceeds from its recent MREIT, Inc. share sales into expanding three of its key township projects: The Upper East in Bacolod, The Mactan Newtown in Cebu, and Paragua Coastown in Palawan.
The amount was raised through block sales of MREIT shares in July and September 2025. Megaworld plans to use the capital to develop income-generating assets such as office towers, lifestyle malls, and hotels—assets that may eventually form part of MREIT’s growing real estate investment trust portfolio.
In Bacolod, Megaworld is transforming a 34-hectare former sugar mill site into a modern business district. The Upper East already features three completed residential towers and one office building, with more residential and commercial properties underway. A lifestyle mall is set to break ground next year.
In Lapu-Lapu City, The Mactan Newtown’s 30-hectare mixed-use development has completed four residential projects and five office towers. It also boasts two operating hotels and two tourism facilities under construction: Mactan Expo, a convention center, and the Mactan World Museum.
In San Vicente, Palawan, Megaworld is building Paragua Coastown, a 462-hectare eco-tourism township along the country’s longest beach. Developments include hotels, condos, a residential village, commercial zones, and nature parks.
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“These projects will help drive local tourism and job creation,” said Megaworld CEO Lourdes Gutierrez-Alfonso. MREIT Chairman Kevin Tan added the new assets will “strengthen MREIT’s long-term growth and enhance shareholder value.”
MREIT currently holds 24 prime office buildings across five Megaworld townships, with plans to grow its gross leasable area beyond one million square meters.
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