LISTED property developer Megaworld Corp. is considering constructing additional convention centers in strategic tourism hubs across the country over the following decade, following its recent entry into the meetings, incentives, conferences, and exhibitions (MICE) sector, an organization official said on Thursday.
Last Tuesday, the developer unveiled the Mactan Expo, a P1.5-billion standalone convention center, marking its initial foray into the MICE sector. The power is positioned throughout the 30-hectare The Mactan Newtown township in Lapu-Lapu City, Cebu.
The Mactan Expo will serve because the inaugural venue of the ASEAN Travel Exchange (TRAVEX) from Jan. 28 to 30, one in all the important thing events under the Philippines’ chairmanship of the ASEAN Summit.
“We’re even taking a look at expanding our MICE business in the following five to 10 years. We’re studying opportunities for convention centers in major tourism areas across the country, particularly in locations where we have already got townships,” Harold Brian C. Geronimo, First Vice President at Megaworld Corp., told reporters throughout the media preview of the Mactan Expo.
“Palawan could possibly be one in all the destinations that we’re looking into, but these are still internal discussions,” Mr. Geronimo said, noting that the province is a top tourist destination.
“But let’s see how this convention center business will perform and whether opportunities will open up in destinations similar to Palawan and Ilocos,” he added.
Megaworld currently has 37 townships nationwide, with its largest being the 1,200-hectare Twin Lakes estate positioned near Tagaytay City.
Mr. Geronimo said constructing recent convention centers annually is probably not feasible, citing aspects similar to demand, available space, and the dimensions requirements of specific areas.
Nevertheless, he noted that every township is being evaluated for the potential development of convention centers.
Meanwhile, Louella Caridad, Megaworld’s Head of Events and Conventions and the recently appointed lead for the Mactan Expo, said the outlook for developing additional convention centers is positive and that projects should be inbuilt areas where they’re needed.
There isn’t any allocated capital expenditure (CAPEX) yet for the initiative as plans are still being finalized, Mr. Geronimo said.
Nevertheless, he noted that Megaworld is probably going to take care of its P50-billion capital expenditure budget for 2026 to support future projects and developments.
The true estate budget forms a part of the P63-billion capital expenditure (CAPEX) of parent company Alliance Global Group, Inc., led by tycoon Andrew L. Tan, in keeping with the corporate’s 2025 CAPEX report. — Edg Adrian A. Eva