Property giant pours P30 billion for office market expansion

CEBU, Philippines — Megaworld Corporation is set to invest P30 billion over the next five years to build new office towers and enhance existing office developments in its townships across the country, including Cebu.

The company plans to introduce these new projects in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila, and other emerging growth areas.

All upcoming office developments will be LEED-certified (Leadership in Energy and Environmental Design) and will include sustainable features along with modern amenities to meet the growing demand for eco-friendly workspaces.

“We remain optimistic about the Philippine office market, especially with more international companies establishing or expanding their operations here. Demand is rising not just from BPO firms but also from traditional business tenants,” said Kevin L. Tan, President and CEO of Alliance Global Group, Megaworld’s parent company.

This year, Megaworld added about 60,000 square meters of gross leasable area (GLA) by opening new office towers in key provincial townships. These include Enterprise One in Iloilo Business Park, No. 1 Upper East in Bacolod’s The Upper East, and Pasudeco Tower in Capital Town, Pampanga.

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

“Our new office developments reflect our commitment to sustainability. We continue to focus on integrating environmental protection measures into our projects, working hand in hand with our tenant partners,” said Lourdes Gutierrez-Alfonso, President of Megaworld.

Megaworld aims to reach 2 million square meters of gross leasable office space by 2030. As of now, the company has about 1.6 million square meters of leasable office space, maintaining its position as the largest office developer and lessor in the Philippines.

In Bonifacio Global City (BGC) alone, Megaworld remains the market leader, with nearly 900,000 square meters of office space in the district.