Megaworld’s wholly-owned subsidiary MREIT Inc. has submitted a registration statement to the Securities and Exchange Commission for the country’s largest Real Estate Investment Trust (REIT) offering to date.
This is expected to raise up to P27.3-billion in proceeds.
Megaworld has injected 10 office and hotel properties into MREIT, offering 224,430.80 square meters. Net proceeds from the offer will be used to finance 16 new projects for Megaworld.