PROPERTY developer Megaworld announced it is investing P30 billion in the next five years to build new office buildings.
New office buildings are set to rise within its Megawolrd townships in Cebu, Bulacan, Pampanga, Bacolod, Iloilo, Davao, Metro Manila and other new growth areas.
“Within the year, the company is opening another 50,000 square meters of office inventory, particularly in Bacolod, Iloilo and Cebu,” the company told the local bourse on Monday, March 24, 2025.
Megaworld also has plans of reinventing, reinvigorating and reimagining its existing office developments in its various townships in the country.
“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to come in, either to establish their presence or expand their operations here. We see a significant spike in demand for office spaces, not just among business process management companies, but even from traditional tenants as well,” said Kevin Tan, president and chief executive officer, of Alliance Global Group, the parent company of Megaworld.
Just this year, Megaworld opened office towers in its provincial townships covering around 60,000 square meters of gross leasable area (GLA). These include Enterprise One in Iloilo Business Park, No. 1 Upper East in The Upper East Bacolod and Pasudeco Tower in Capital Town Pampanga.
Last year, Megaworld announced that it aims to have 2,000,000 square meters of gross leasable office space by 2030. Currently, the company has about 1.6 million square meters of leasable office space in its portfolio, making it the biggest office developer and lessor in the Philippines. / KOC