Megaworld rolls out P30 billion to build up office portfolio

MANILA, Philippines — Listed Megaworld Corp. is rolling out a P30-billion spending plan over the next five years to boost its office portfolio.

The property giant will use the investment to build new office buildings as well as reinvent its existing office developments in its various townships across 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,” said Kevin Tan, president and CEO of Alliance Global Group, the parent company of Megaworld.

Tan said Megaworld is seeing a significant spike in demand for office spaces, not just among business process outsourcing companies, but even from traditional tenants as well.

New Megaworld office developments will soon rise within its townships in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila and other growth areas where new townships will be built.

The company assured that all these office developments will be LEED-registered and certified, packed with sustainability features and several new amenities.

For 2025, Megaworld has so far opened office towers in its provincial townships covering around 60,000 square meters of gross leasable area.

The new office towers include Enterprise One in Iloilo Business Park, No. 1 Upper East in The Upper East Bacolod and Pasudeco Tower in Capital Town Pampanga.

The company plans to open another 50,000 square meters of office inventory, particularly in Bacolod, Iloilo and Cebu, within the year.

“The new office towers will highlight our continuing thrust toward 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,” Megaworld president Lourdes Gutierrez-Alfonso said.

Megaworld currently 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.

The company has 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.

By 2030, the company aims to have two million square meters of gross leasable office space.