Property giant Megaworld Corp. is setting the stage for significant growth in the office sector by committing P30 billion over the next five years to develop new office buildings and revitalize existing properties.
This expansion will see the construction of office towers within Megaworld’s various townships across the Philippines, including in key areas such as Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, and Metro Manila.The new developments will focus on sustainability, with all projects aiming for LEED certification and incorporating eco-friendly features.
“We are optimistic about the office market, especially as more international companies continue to establish or expand their presence in the Philippines. The demand for office spaces is growing, not just among BPO firms, but also traditional tenants,” said Kevin L. Tan, president and chief executive officer of Megaworld’s parent company, Alliance Global Group.
Megaworld has already made strides in expanding its office portfolio this year, with the opening of office towers in Iloilo, Bacolod, and Pampanga, totaling 60,000 square meters of gross leasable area (GLA). The company plans to add another 50,000 square meters of office space, focusing on growing markets like Bacolod, Iloilo, and Cebu.
Lourdes Gutierrez-Alfonso, president of Megaworld, said the company’s ongoing commitment to sustainability. “We are focused on developing office spaces that not only meet business needs but also promote environmental responsibility,” she said. The company has set an ambitious goal to reach 2 million square meters of leasable office space by 2030, up from its current 1.6 million square meters.
With its continued leadership in Bonifacio Global City, where it manages nearly 900,000 square meters of office space, Megaworld is poised to maintain its dominance in the Philippine office market.
