Arcovia City, a township project in Pasig City, is now officially registered under the Philippine Economic Zone Authority (PEZA) following a recent sealing of a proclamation being the newest Information Technology (IT) park and as one of the country's ecozones.
Arcovia City, to be developed and operated by Megaworld Corporation, is a 12.3-hectare ArcoVia City along C5 Road, home to residential condominiums surrounded by a vibrant retail hub, state-of-the-art office towers, and a lush landscape.
Earlier, Megaworld Executive Vice President and Chief Strategy Officer Kevin Tan signed a Registration Agreement with PEZA to be the developer/operator of Arcovia City IT Park.
PEZA said the partnership between them and Megaworld further bolsters the Philippines' reputation as a premier investment hotspot in the region, with ecozones as drivers of growth and development.
Through the establishment of cutting-edge ecozones, both parties aim to generate interest, engage, and entice housing more local and international investors.
Both PEZA Director General Tereso Panga and Megaworld's Tan expressed confidence in the endeavor, emphasizing their shared dedication to advancing the ecozone initiative, which ultimately contributes to the nation's economic growth and job creation for Filipinos.
"Megaworld's commitment to nation-building is evident through their active participation in the country's ecozone program. By establishing new zones, we can host global players in the IT-BPM industry, giving Filipinos more opportunities," Panga stated.
To recall, President Ferdinand Marcos Jr. signed Proclamation No. 512 last 1 April, designating parcels of land in Ugong, Pasig City as an IT park, part of Megaworld's township project.
Arcovia City is one of the two ecozones proclaimed by President Marcos Jr. this year, bringing a total of proclaimed ecozones under the Marcos Administration to 13 with P4.856 Billion investments.
"We are optimistic that more business titans in the real estate development sector will follow Megaworld's lead and either establish or expand their portfolio in the government's ecozone program," according to DG Panga.
To date, Megaworld and its affiliates oversee nine economic zones, accommodating 221 registered businesses that collectively generated $3.29 billion in exports in 2023, and providing direct employment to more than 160,000 Filipinos.
