Business.(Business File photo)

Megaworld’s leasing portfolio to reach 3M sqm by 2023

MEGAWORLD is ramping up its leasing portfolio until 2030 to reach 3,000,000 square meters of gross leasable area (GLA) for both Megaworld Premier Offices and Megaworld Lifestyle Malls.

This is 52 percent higher than the company’s total leasing portfolio as of the end of 2023. During the company’s annual stockholders’ meeting, Alliance Global Group Inc.’s chief executive officer Kevin Tan revealed that Megaworld’s gross leasable area for office spaces will reach 2,000,000 square meters by 2030, while gross leasable area for malls will reach 1,000,000 square meters by then.

These new office stocks will be from its townships in Bulacan, Pampanga, Cavite, Bacolod, and Metro Manila.

The new retail spaces, on the other hand, will come from its lifestyle mall properties in Cavite, Rizal, Pampanga, Bulacan, Bacolod, Cebu, Davao, Boracay and Palawan.

This year, Megaworld has budgeted P55 billion for capital expenditure, which is an important part of our overall P350 billion five-year capex program that began in 2023. The budget will be used to develop our existing and upcoming townships, residential projects, investment properties, as well as land acquisition. / PR

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