Megaworld Corp. will invest about P10 billion to build four new malls nationwide, adding more than 150,000 square meters of gross floor area to its retail portfolio. Construction is set to begin through next year as part of its target to grow total gross leasable area (GLA) to 1 million square meters by 2030. The company currently has over 500,000 square meters of retail space.
The planned developments include Capital Mall in Pampanga, Northwin Global Concourse in Bulacan, Maple Grove Mall in Cavite, and Upper East Mall in Bacolod. Megaworld will also expand Festive Walk Mall in Iloilo Business Park with a new two-level retail wing that will house a Landers Superstore branch.
The projects are part of the company’s P65-billion capital expenditure program this year, supporting expansion across its residential, office, hospitality and retail segments in key growth areas. The retail push is also expected to support the planned infusion of select assets into Mreit Inc. as it works toward expanding its REIT portfolio to 1 million square meters of GLA by 2027.
