Property giant Megaworld is further ramping up its office portfolio by investing P30-billion in the next five years to build new office buildings, as well as reinvent, reinvigorate, and reimagine its existing office developments in its various townships across the Philippines.
These new office developments will soon rise within Megaworld townships in Bacolod, Iloilo, Cebu, Bulacan, Pampanga, Davao, Metro Manila, and other new growth areas where Megaworld townships will be built.
All these office developments will be LEED-registered and certified, and packed with sustainability features and several new amenities.
“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,” Kevin Tan, president and CEO of Alliance Global Group, the parent company of Megaworld, said in a statement March 24.
“We see a significant spike in demand for office spaces, not just among BPO companies, but even from traditional tenants as well,” Tan added.
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.
Within the year, the company is opening another 50,000 square meters of office inventory, particularly in Bacolod, Iloilo, and Cebu.
“The new office towers will highlight our continuing thrust towards embracing sustainability. We have been putting greater emphasis on this aspect of our business. This is part of our commitment to become more mindful about how we can help protect and preserve the environment together with our tenant partners,” Lourdes Gutierrez-Alfonso, Megaworld president, said.
In 2024, 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.
Megaworld also maintained its leadership status in the office market in Bonifacio Global City, with close to 900,000 square meters of office space in the entire district alone. ||
