PROPERTY firm Megaworld Corp. on Monday detailed a reinvestment strategy following last week's sale of 79.7 million common shares of its real estate investment trust MREIT, with most of the funds intended for key real estate developments across the country.

In a stock exchange filing, the company said it intended to invest the net proceeds from the sale, estimated at slightly over P973 million, in townships located in Bulacan, Cebu, Metro Manila and Bacolod 'for the development of malls, offices, and other developments within each township.'