Megaworld to invest P30B in office expansion
LISTED PROPERTY developer Megaworld Corp. plans to invest P30 billion over the next five years to expand its office portfolio and enhance its existing properties nationwide.
“We are optimistic about the office sector in the Philippines, particularly as more international companies continue to enter the market, either to establish their presence or expand their operations here,” Alliance Global Group President and Chief Executive Officer Kevin L. Tan said in a regulatory filing on Monday.
Alliance Global is the parent company of Megaworld.
Megaworld said the investment will fund office developments within its townships in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila, and other planned township locations.
These office developments will be Leadership in Energy and Environmental Design (LEED)-registered and certified, featuring sustainable design and modern amenities.
“We see a significant increase in demand for office spaces, not just from BPO (business process outsourcing) companies but also from traditional corporate tenants,” Mr. Tan said.
Megaworld said part of the investment will be allocated for the redevelopment and renovation of existing office properties.
“The new office towers will highlight our ongoing commitment to sustainability. We have been placing greater emphasis on this aspect of our business,” said Megaworld President Lourdes Gutierrez-Alfonso.
As of 2025, Megaworld has opened office towers in its provincial townships, adding approximately 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.
For this year, Megaworld plans to add another 50,000 square meters of office space in Bacolod, Iloilo, and Cebu.
Last year, Megaworld said it aims to reach two million square meters of gross leasable office space by 2030.
Currently, the company has 1.6 million square meters of leasable office space in its portfolio.
In 2024, Megaworld’s attributable net income rose by 11.7% to P21.67 billion, driven by revenue growth in its residential business.
The company attributed its 2024 performance to the continued expansion of its core businesses, particularly in real estate, leasing, and hospitality.
Total revenue increased by 17.2% to P81.69 billion from P69.73 billion in 2023, primarily driven by real estate sales.
At the local bourse on Monday, Megaworld shares closed at P1.85 apiece, down 10 centavos or 0.54%. — Ashley Erika O. Jose
