LISTED PROPERTY developer Megaworld Corp. plans to speculate P30 billion over the following five years to expand its office portfolio and enhance its existing properties nationwide.
“We’re optimistic concerning the office sector within the Philippines, particularly as more international firms proceed to enter the market, either to ascertain 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 inside its townships in Bulacan, Pampanga, Bacolod, Iloilo, Cebu, Davao, Metro Manila, and other planned township locations.
These office developments shall be Leadership in Energy and Environmental Design (LEED)-registered and licensed, featuring sustainable design and modern amenities.
“We see a big increase in demand for office spaces, not only from BPO (business process outsourcing) firms but additionally from traditional corporate tenants,” Mr. Tan said.
Megaworld said a part of the investment shall be allocated for the redevelopment and renovation of existing office properties.
“The brand new office towers will highlight our ongoing commitment to sustainability. Now 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 roughly 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 12 months, Megaworld plans so as to add one other 50,000 square meters of office space in Bacolod, Iloilo, and Cebu.
Last 12 months, Megaworld said it goals to achieve two million square meters of gross leasable office space by 2030.
Currently, the corporate 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 corporate 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.
On the local bourse on Monday, Megaworld shares closed at P1.85 apiece, down 10 centavos or 0.54%. — Ashley Erika O. Jose
